Matrix Partners India, Nexus Venture Partners, and NTTVC headed the investment round. The business will use the new funds to extend its Gen AI cloud platform-as-a-service offerings and improve observability tools for both the Indian and worldwide markets. The company was founded in 2023 and offers a variety of generative AI platforms and services to help clients manage their AI projects.
Neysa, a Mumbai-based AI cloud and platform-as-a-service firm, has raised $20 million (INR 166.4 crore) in its seed fundraising round led by Matrix Partners India, Nexus Venture Partners, and NTTVC.
The new funds will be used to grow the startup’s Gen AI-cloud platform-as-a-service offerings and improve observability tools for the Indian and global markets and will also be utilized to improve Neysa’s infrastructure and accelerate its research and development operations.
Neysa was founded in 2023 by Sharad Sanghi and Anindya Das and offers a variety of generative AI platforms and services to help companies manage their AI initiatives. These offerings provide security for both cloud and edge environments.
The business also plans to launch its services in Q3 2024.
According to Inc42, “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” , Sanghi stated.
Das stated, “…This funding strengthens our mission to democratize AI, enabling businesses of all sizes to spark innovation and drive growth.” We are creating a future in which AI integration is smooth and intuitive, profoundly altering how we engage with technology.”
Avnish Bajaj, MD of Matrix Partners India, stated, “Having known Sanghi and Das for a long time, it is our privilege to collaborate with them on their next venture.” Enterprises around the world, and especially in India, are looking for expertise to assist them in transition to Al native cloud computing, and there is no better or more knowledgeable team in India to work with.”
Jishnu Bhattacharjee, MD of Nexus Venture Partners, stated, “The meteoric rise in global demand for AI necessitates the deployment of an AI-native cloud platform, which Neysa is fully prepared to provide.”
Vab Goel, founding partner of NTTVC and Board Member of NTT Data Inc., stated, “Generative AI is a key topic of every board room discussion; Neysa will help enterprises gain a competitive advantage by accelerating a new era of productivity.” We are eager to continue working with Sharad and Andy.”
Generative artificial intelligence, or “Gen AI,” is becoming increasingly popular as a disruptive force in various industries. According to a recent EY analysis, Gen AI will have a big impact on India’s economy, boosting it by $1.2 trillion to $1.5 trillion over the next seven years.
