[Funding alert] AI Startup Neysa Secures $20 Mn Funding From Matrix Partners India, Nexus Venture

Neysa, India’s first AI cloud and platform-as-a-service startup, has secured $20 million in Seed funding. Led by Matrix Partners India, Nexus Venture Partners, and NTTVC, the funding will help drive the Generative-AI-cloud platform as a service and observability for India and global markets.

To assist clients find, plan, implement, and manage their Generative AI projects efficiently and secure their AI landscapes in the cloud and at the edge using a consumption-based paradigm, Neysa will provide a suite of Generative AI platforms and services.

Infusion of capital is earmarked for expanding Neysa’s infrastructure and accelerating its research and development initiatives. “Our goal is to leverage this funding to push the limits of innovation, assisting our clients with the power of our end-to-end Generative AI PaaS ecosystem and our AI-engineered Observability Platform, in a way that provides demonstrable and tangible outcomes for their business”, said Sharad Sanghi, Founder and CEO, Neysa.

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Neysa’s industry vertical solutions and integrated strategy would hasten the implementation of generative AI in Indian and international organisations. Neysa intends to launch its services in the third quarter of 2024.

Anindya Das, Co-founder and CTO, Neysa adds, “Neysa was conceived from a deep understanding of the day-to-day challenges faced in managing and scaling cloud and the transformative potential of AI. This funding boosts our mission to democratize AI, empowering companies of all sizes to ignite innovation and drive growth. We’re building a future where AI integration is seamless, intuitive, and fundamentally changes the way we interact with technology”.

Commenting on the launch, Avnish Bajaj, MD, Matrix Partners India said, “Having known Sharad and Andy for a long time, it is our privilege to partner with them on their next venture. Enterprises globally, and even more so in India, are eager for expertise in helping them transition to AI native cloud computing and there is no better and more experienced team in India for them to partner with! We are excited about the future of Neysa and the journey ahead.”

Lauding the launch of Neysa, Jishnu Bhattacharjee, MD, Nexus Venture Partners said, “Meteoric rise of demand for AI globally calls for AI-native cloud platform that Neysa is all set to offer. Having known and backed Sharad and Andy previously at Netmagic, we are thrilled to partner with them again in Neysa’s journey, as they shape the future of AI cloud services!”

About Neysa

Neysa is co-founded by India’s recognized technology leaders Sharad Sanghi (CEO) and Anindya Das (CTO). Sanghi’s extensive background, including the founding of Netmagic, India’s leading data center company which was acquired by NTT, complements Das’s deep expertise in cloud infrastructure and network design. B V Jagadeesh, with his exceptional track record in Silicon Valley, will be Chairman.

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