Unleashing AI Potential: Neysa's $20 Million Funding Boosts Cloud Innovation

Neysa , a startup specializing in cloud and platform-as-a-service solutions, has secured $20 million in seed funding from leading investors including Z47 , Nexus Venture Partners , and NTTVC.

The funding will enable the startup to propel its Generative-AI-cloud platform as a service and observability offerings into both Indian and global markets, according to a press release.

Co-founded by prominent technology leaders in India, Sharad Sanghi , serving as CEO, and Anindya Das, serving as CTO, Neysa aims to leverage Sanghi's extensive experience, particularly in founding Netmagic, India’s premier data centre company acquired by NTT, alongside Das's profound expertise in cloud infrastructure and network design. B V Jagadeesh, renowned for his track record in Silicon Valley, will serve as Chairman.

Neysa will provide a suite of Generative AI platform and services, assisting clients in discovering, planning, deploying, and managing their Generative AI projects cost-effectively while securing their AI landscapes in the cloud and at the edge through a consumption-based model.

The startup's integrated approach and industry-vertical solutions are expected to accelerate Generative AI adoption in enterprises across India and globally, with plans to release its services in Q3 2024.

With this funding, Neysa intends to expand its infrastructure and accelerate research and development initiatives.

"Our aim is to utilize this funding to drive innovation, empowering our clients with the capabilities of our end-to-end Generative AI PaaS ecosystem and our AI-engineered Observability Platform, delivering tangible outcomes for their businesses," said Sharad Sanghi, Founder and CEO of Neysa.

Anindya Das, Co-founder and CTO of Neysa, added, "Neysa was born from a deep understanding of the everyday challenges in managing and scaling cloud infrastructure and the transformative potential of AI. This funding reinforces our mission to democratize AI, enabling companies of all sizes to foster innovation and spur growth. We envision a future where AI integration is seamless, intuitive, and fundamentally alters our interaction with technology."

Avnish Bajaj , MD of Matrix Partners India, expressed excitement about partnering with Sharad and Andy, stating, "Enterprises worldwide, especially in India, seek expertise in transitioning to AI-native cloud computing, and there is no better team in India than Sharad and Andy's to partner with! We are enthusiastic about Neysa's future and the journey ahead."

Jishnu B. , MD of Nexus Venture Partners, commended the launch of Neysa, noting, "The meteoric rise in global demand for AI necessitates an AI-native cloud platform, which Neysa is poised to provide. Having previously supported Sharad and Andy at Netmagic, we are thrilled to partner with them again on Neysa’s journey as they shape the future of AI cloud services."

Vab Goel , Founding Partner of NTTVC and Board Member of NTT Data Inc., emphasized the significance of Generative AI in boardroom discussions and expressed excitement about Neysa's role in helping enterprises gain a competitive advantage in the new era of productivity.