Neysa, a Mumbai-based startup specializing in artificial intelligence (AI) cloud and platform-as-a-service, intends to use the newly acquired funds to enhance its infrastructure, bolster its research and development team, and invest in sales and marketing efforts.
Neysa, a Mumbai-based startup specializing in artificial intelligence (AI) cloud and platform-as-a-service, has secured $20 million (approximately INR 166 crore) in a funding round led by Matrix Partners India, Nexus Venture Partners, and NTTVC.
Founded by Sharad Sanghi, the founder of data centre services provider Netmagic, Neysa intends to utilize the funds to expand its infrastructure, bolster its research and development team, and invest in sales and marketing initiatives.
Chief executive Sanghi remarked on the rapid pace of technological change in infrastructure and graphics processing units (GPUs), highlighting the crucial role of companies like theirs. He emphasized the need to stay abreast of the latest advancements and adapt as technology evolves.
Sanghi noted that this dynamic creates a growing demand from enterprises, as the fast rate of obsolescence necessitates guidance from capable partners.
Established in 2023 by Sanghi and Anindya Das, the company provides a range of generative AI platforms and services aimed at assisting clients in overseeing their AI projects. Their offerings ensure security across both cloud and edge environments.
Sanghi claimed that the company has already finalized its infrastructure and is preparing to launch the platform in July. He emphasized notable interest from prospective clients in both the AI cloud platform and network observability segments.
Sanghi expressed the company’s ambition to develop intellectual property and leverage it to establish a global presence in the future. He emphasized their current focus on the Indian market, citing its vast size and slightly lower maturity compared to the US market. He also outlined the strategy of gaining initial traction in India, deploying products and services, and subsequently expanding worldwide.
Avnish Bajaj, managing director at Matrix Partners India, commented on the launch, expressing enthusiasm about the prospects of Neysa. He highlighted the global demand for expertise in transitioning to AI native cloud computing, particularly in India. Bajaj emphasized the unparalleled experience and expertise of Neysa’s team, positioning them as an ideal partner for enterprises seeking assistance in this area.
Jishnu Bhattacharjee, managing director at Nexus Venture Partners, commented on the soaring demand for AI worldwide and emphasized the necessity for an AI-native cloud platform, a niche that Neysa is poised to fulfill. Having previously known and supported Sharad and Andy during their tenure at Netmagic, Bhattacharjee expressed excitement about partnering with them once more in Neysa’s journey.
