Mumbai-based AI cloud startup Neysa has secured $30 million in Series A funding, co-led by existing investors NTTVC, Z47 (formerly Matrix Partners India), and Nexus Venture Partners. This fresh capital infusion will be used to expand Neysa’s AI infrastructure, accelerate research and development efforts, and support the upcoming launch of its Gen AI Acceleration Cloud Service, aimed at transforming Indian enterprises and the public sector.
“This investment brings us closer to our vision of democratising access to Gen AI and AI solutions for organizations across the world. 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,” said Sharad Sanghi, Co-founder and CEO of Neysa.
Sharad Sanghi formally disclosed the Series A round at the 15th edition of TechSparks 2024, YourStory’s flagship conference.
Founded in 2023 by Sharad Sanghi and Anindya Das, Neysa offers a comprehensive suite of generative AI platforms and services. These tools are designed to help businesses seamlessly plan, deploy, and manage their AI projects, ensuring robust security across both cloud and edge environments. Neysa’s flagship platform, Neysa Velocis, launched in July 2024, is now available for general use. The platform provides on-demand access to high-performance computing infrastructure, with paying customers already onboard across sectors including AI-driven digital natives, media and entertainment, service providers, software vendors, and the public sector.
“We are excited to co-lead the Series A round and deepen our partnership with Neysa. The team’s innovation and commitment to accelerating Gen AI solutions are creating a significant impact in the region’s tech ecosystem,” said Vab Goel, Founding Partner at NTTVC and Board Member of NTT DATA, Inc.
Avnish Bajaj, Founder and Managing Director of Z47, also emphasized Neysa’s pivotal role in digital transformation: “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.”
Neysa’s trajectory also includes strengthening collaborations with global system integrators, cloud service providers, and AI-centric software companies, as part of its mission to democratize AI and bridge the digital divide.
“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 the team, in their journey of building one of the most advanced AI clouds out of India for the world,” said Jishnu Bhattacharjee, Managing Director, Nexus Venture Partners.