Neysa Secures $30 Million in Series A Funding to Accelerate AI Infrastructure Development

Neysa Bags $30 Mn To Fuel Its GenAI Adoption

Six month ago, the company raised $20 Mn (INR 166.4 Cr) as a part of its seed funding round co-led by Matrix Partners India, Nexus Venture Partners and NTTVC AI cloud and platform-as-a-service startup Neysa has secured $30 Mn (around INR 252 Cr) in a Series A funding round co-led by existing investors NTTVC, Z47 and Nexus Venture Partners. The Mumbai-based startup plans to use the fresh capital to ramp up its AI infrastructure, research and development and prepare for the launch of its integrated GenAI acceleration cloud service. "This investment brings us closer to our vision of democratising access to GenAI and AI solutions for organisations across the world," said Sharad Sanghi, cofounder and chief executive at Neysa. Additionally, Neysa is fostering collaborations with global system integrators, cloud service providers and AI-powered software providers, the company said in a statement. Founded in 2023 by Sanghi and Anindya Das, Neysa provides a range of GenAI platforms and services aimed at assisting clients in overseeing their AI projects. These offerings ensure security across both cloud and edge environments. This new development comes six months after the company raised $20 Mn (INR 166.4 Cr) as a part of its seed funding round co-led by Matrix Partners India, Nexus Venture Partners and NTTVC. Neysa also said that the seed funding helped it to launch flagship platform Neysa Velocis, which enables on-demand access to high-performance computing infrastructure. The startup also claims to have secured orders from paying customers across various sectors, including AI-first digital natives, media and entertainment companies, service providers, software vendors and the public sector. This development comes at a time when homegrown SaaS and AI-based startups are convincing investors to make big bets on their business plans. For instance, AI-focused cloud provider E2E Networks secured INR 420.5 Cr (around $50 Mn) in an investment via preferential issue of equity shares, in August. Meanwhile, Bengaluru-based SaaS AI cloud management startup aarna.ml has raised $1.2 Mn (about INR 10 Cr) as part of its Series A funding round from Exfinity Venture Partners, nearly a month ago.

Neysa Bags $20 Mn To Fuel Its GenAI Adoption

Six month ago, the company raised $20 Mn (INR 166.4 Cr) as a part of its seed funding round co-led by Matrix Partners India, Nexus Venture Partners and NTTVC AI cloud and platform-as-a-service startup Neysa has secured $30 Mn (around INR 252 Cr) in a Series A funding round co-led by existing investors NTTVC, Z47 and Nexus Venture Partners. The Mumbai-based startup plans to use the fresh capital to ramp up its AI infrastructure, research and development and prepare for the launch of its integrated GenAI acceleration cloud service. "This investment brings us closer to our vision of democratising access to GenAI and AI solutions for organisations across the world," said Sharad Sanghi, cofounder and chief executive at Neysa. Additionally, Neysa is fostering collaborations with global system integrators, cloud service providers and AI-powered software providers, the company said in a statement. Founded in 2023 by Sanghi and Anindya Das, Neysa provides a range of GenAI platforms and services aimed at assisting clients in overseeing their AI projects. These offerings ensure security across both cloud and edge environments. This new development comes six months after the company raised $20 Mn (INR 166.4 Cr) as a part of its seed funding round co-led by Matrix Partners India, Nexus Venture Partners and NTTVC. Neysa also said that the seed funding helped it to launch flagship platform Neysa Velocis, which enables on-demand access to high-performance computing infrastructure. The startup also claims to have secured orders from paying customers across various sectors, including AI-first digital natives, media and entertainment companies, service providers, software vendors and the public sector. This development comes at a time when homegrown SaaS and AI-based startups are convincing investors to make big bets on their business plans. For instance, AI-focused cloud provider E2E Networks secured INR 420.5 Cr (around $50 Mn) in an investment via preferential issue of equity shares, in August. Meanwhile, Bengaluru-based SaaS AI cloud management startup aarna.ml has raised $1.2 Mn (about INR 10 Cr) as part of its Series A funding round from Exfinity Venture Partners, nearly a month ago.

AI startup Neysa raises $30 million in funding round led by NTTVC, others

Neysa, a Mumbai-based artificial intelligence (AI) cloud and platform-as-a-service startup, has raised $30 million (about Rs 252 crore) in a funding round co-led by existing investors - US-based venture capital firm NTTVC, Z47 (formerly Matrix Partners India) and Nexus Venture Partners. The company, the second venture of data centre services provider Netmagic founder Sharad Sanghi, said the funds will be used for scaling up infrastructure and fuel research and development to democratise access to scalable AI solutions. The latest funding comes after a $20 million round in April. Founded in 2023 by Sanghi and Anindya Das, the company offers a suite of generative AI platform and services to help clients manage their AI projects, ensuring security across cloud and edge environments. Its flagship platform Velocis, which provides on-demand access to high-performance computing infrastructure, was launched at the end of July. Neysa serves around 12 customers across AI-first digital natives, media and entertainment companies, service providers, software vendors and the public sector. "We are seeing a lot of traction from overseas, including countries like the US, Europe, Japan and the Middle East. So, we will look at overseas markets very soon. Currently, we are seeing great demand from the Indian market itself," said Sanghi. The startup expects a growth of 200-300% next year, aiming to almost treble its revenue. "Next year will be much bigger than this year, not only because we will have a full 12 months of operations but also because the demand-supply dynamics are in our favour. There is more demand in the market than the supply of graphics processing units (GPUs). That's why we believe that next year will be three times this year," Sanghi said. Commenting on the investment Vab Goel, founding partner at NTTVC, said, "The team's innovation and commitment to accelerating Gen AI solutions are creating a significant impact in the region's tech ecosystem. We have seen firsthand how Sharad built India's largest data centre company from inception. His experience and track record are a critical differentiator in building and scaling the next-generation Gen AI cloud provider." Avnish Bajaj, founder and managing director of Z47, said, "Neysa finds itself in the enviable position of having more demand than any other company I have seen at a similar stage and is a catalyst for digital transformation, not just an AI provider."

Neysa Raises $30 Million in Series A Funding co-led by NTTVC, Z47 and Nexus Venture Partners to Accelerate Gen AI Adoption

Investment to scale-up infrastructure and fuel R&D to democratize access to scalable AI solutions Neysa, a pioneering AI Acceleration Cloud System provider, today announced it has raised $30 million in Series A funding. The round was co-led by existing investors NTTVC, Z47 (fka Matrix Partners India) and Nexus Venture Partners. This investment builds on Neysa's successful $20 million seed round earlier this year, underscoring strong investor confidence in the company's mission to accelerate Gen AI innovation, for Indian enterprises and public sector. Since the seed funding round, Neysa has made significant strides in advancing its technology and market presence. The company's flagship platform, Neysa Velocis, launched in July 2024, which enables on-demand access to high-performance computing infrastructure, is now generally available. Neysa has secured orders from paying customers across various sectors, including AI-first digital natives, media and entertainment companies, service providers, software vendors, and the public sector. This traction highlights the growing demand for scalable AI-native solutions and Neysa's ability to meet diverse industry needs. With AI demand in India projected to triple to $22 billion by 2027[1], Neysa is strategically positioned to meet the growing need for scalable AI solutions. Over 60% of Indian enterprises are already exploring AI applications[2], and as the country boasts the world's second-largest AI talent pool[3], the potential for widespread adoption is significant. However, access to purpose-built AI-native infrastructure continues to be a challenge. Neysa aims to bridge this gap by providing localized, scalable AI infrastructure. The new funding will enable Neysa to scale its AI infrastructure, advance research and development, and gear up for the launch of its integrated Gen AI Acceleration Cloud Service, "This investment brings us closer to our vision of democratizing access to Gen AI and AI solutions for organizations across the world," said Sharad Sanghi, Co-Founder and CEO of Neysa. "We're thrilled with the progress we've made since our seed round. The general availability of Neysa Velocis and the onboarding of customers across key sectors validate our approach. By offering purpose-built, cost-effective AI-native solutions, we empower organizations to innovate confidently in a world that is being reshaped by AI." "We are excited to co-lead the Series A round and deepen our partnership with Neysa", said Vab Goel, Founding Partner at NTTVC and Board Member of NTT DATA, Inc. "The team's innovation and commitment to accelerating Gen AI solutions are creating a significant impact in the region's tech ecosystem. We have seen firsthand how Sharad built India's largest datacenter company from inception. His experience and track record are a critical differentiator in building and scaling the next-generation Gen AI cloud provider." Avnish Bajaj, Founder and Managing Director, Z47 added, "Sharad, Andy and Neysa team's remarkable progress in a short period of time has been inspiring. Neysa finds itself in the enviable position of having more demand than any other company I have seen at a similar stage and is a catalyst for digital transformation not just an AI provider. We're privileged to support the company's journey in empowering organizations to harness the full potential of AI with their world class AI technology platform and capabilities." Jishnu Bhattacharjee, Managing Director, Nexus Venture Partners noted, "By building out AI-native compute infrastructure and making that easily and securely accessible, Neysa is accelerating the adoption of Generative AI by the enterprises. We are thrilled to double-down on our partnership with Sharad, Andy and team, in their journey of building one of the most advanced AI clouds out of India for the world." Neysa's mission centers on putting the power of AI within reach for businesses, eliminating complexity, and unlocking innovation and growth. The company's "Power of More" approach emphasizes delivering more value, while "Leading the Change" reflects its role in driving AI-led digital transformation in emerging AI adoption markets. In addition to scaling its technology, Neysa is strengthening collaborations with global system integrators, cloud service providers, and AI-focused software providers. These alliances will help advance its mission to democratize AI and bridge the digital divide. Through participation in government initiatives and industry collaborations, Neysa is shaping public discourse on AI adoption and innovation. About Neysa Neysa, an AI Acceleration Cloud System provider, democratizes AI adoption with purpose-built platforms and services for AI-native applications and workloads. Co-founded by industry leaders, Neysa empowers businesses to discover, deploy, and scale Gen AI and AI use cases securely and cost-effectively. Their flagship platforms, Neysa Velocis, Neysa Overwatch, and Neysa Aegis, accelerate AI deployment, optimize network performance, and safeguard AI/ML landscapes. Neysa is committed to enabling AI-led innovation across industries and geographies.

India's Neysa bags $30M to compete with global AI hyperscalers | TechCrunch

Even though India isn't at the forefront of the global AI innovation battle, demand for AI in the country is growing as businesses seek efficiencies and tech companies promote AI developments as a cure-all. The South Asian nation is projected to have an AI market touching $17 billion by 2027, according to a joint report by the IT industry body Nasscom and consulting firm BCG. Neysa, an Indian startup led by seasoned tech entrepreneur Sharad Sanghi, aims to leverage this growth opportunity by offering its AI solutions to local and multinational businesses in the country. The Mumbai-based startup provides AI and machine learning infrastructure and platform as a service to enterprise customers based on their requirements. It also includes dedicated machine learning operations and infrastructure consulting teams to help customers find the relevant size for their infrastructure, and to fine-tune or customize the models they choose. Before founding Neysa with his former colleague Anindya Das in 2023, Sanghi spent over 27 years at his previous venture and data center provider, Netmagic, which Japan's NTT Data acquired in 2016. He told TechCrunch that he intended to focus on cloud infrastructure and AI in 2022 but was unable to do so. He resigned as the managing director and CEO of Netmagic in June 2023 to start fresh with Neysa. "I started at Neysa with a view of providing infrastructure as a service, platform as a service, inference as a service, the services layer around ML, as well as the platforms that we need for developers," he said in an interview. Neysa initially started as an infrastructure service provider and launched its flagship platform, Velocis, in July to provide on-demand access to computing infrastructure. However, it plans to expand the product lineup by launching its developer platform and inference-as-a-service before the year-end. The startup is also working on developing an "observability for better management" of its infrastructure and securing AI workloads, Sanghi said. With its entire suite of offerings getting ready, Neysa is looking to compete with global hyperscalers, including the typical cloud service providers such as AWS, Google Cloud Platform, and Microsoft Azure, as well as the new-age contenders like CoreWeave and Lambda Labs. Sanghi asserted that the startup differentiates from the existing players by offering "flexibility" in its models. "We can offer both public cloud and private clusters. It's also the open-source nature of our offering. All our platforms are built on open-source platforms... so there's no lock-in for clients," he stated. The startup's consultation service also aims to attract local businesses, which often find it challenging to get the appropriate infrastructure without spending thousands of dollars. "Very often, clients come to us and say that they want so many GPUs... and when we really look at the requirement, they don't need half the amount they had asked," Sanghi said. Neysa has raised $30 million in an all-equity Series A round co-led by its existing investors NTTVC, Z47 (formerly called Matrix Partners India), and Nexus Venture Partners. This follows up the startup's $20 million seed round earlier this year. The fresh funding, Sanghi said, will augment Neysa's infrastructure, enhance its R&D, and broaden go-to-market. The funds will also set the base for the startup to launch its integrated Gen AI acceleration cloud service. The startup currently has a headcount of 55 people, which it will grow by adding more engineers and staff to expand direct and indirect sales. Neysa currently has around 12 paying customers and runs about six large proof-of-concepts. As much as 70 percent of its entire customer base has opted for the private cluster, while the remaining 30 percent is on a public cloud, Sanghi said. While Sanghi didn't disclose the names of Neysa's customers, he said the startup caters to broadly three categories: research institutes, AI-native startups, and enterprise customers, initially in the banking, manufacturing, and media sectors. Neysa's current customer base is in India, though Sanghi said the startup does plan to enter global markets with its next round of funding -- talks for which have already started, and it is expected to close in the next six to nine months. He did not reveal the exact amount Neysa seeks to raise in its next round, though he stated that it would be "in an order of magnitude more than what we've currently raised." The startup also plans to raise debt to fulfil the growing GPU and other infrastructure requirements.