AI Cloud And PaaS Start-Up Neysa Secures $20 Million In Seed Funding

AI cloud and platform-as-a-service start-up, Neysa secured $20 million in Seed funding. The round was led by Matrix Partners India, Nexus Venture Partners, and NTTVC. The start-up intends to use this capital to help drive the Generative-AI-cloud platform as a service and observability for India and global markets, it added in a statement. 

The company will provide a suite of Generative AI platforms and services to assist its clients in discovering, planning, deploying, and managing their Generative AI projects cost-effectively. Additionally, it will help secure their AI landscapes in both cloud and edge environments through a consumption-based model.

It’s integrated approach and industry vertical solutions will help accelerate Generative AI adoption in enterprises across India and globally. The company said it is planning to release its services in Q3 2024. 

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. 

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." 

Vab Goel, founding partner NTTVC and Board Member of NTT Data Inc. remarked, “Generative AI is key topic of every board room discussion, Neysa will help enterprises gain competitive advantage by accelerating new era of productivity. We are excited to continue our partnership with Sharad and Andy.”