Neysa Bags $30 Mn To Fuel Its GenAI Adoption

AI cloud and platform-as-a-service startup Neysa has secured $30 Mn (around INR 252 Cr) in a Series A funding round co-led by existing investors NTTVC, Z47 and Nexus Venture Partners.

The Mumbai-based startup plans to use the fresh capital to ramp up its AI infrastructure, research and development and prepare for the launch of its integrated GenAI acceleration cloud service.

“This investment brings us closer to our vision of democratising access to GenAI and AI solutions for organisations across the world,” said Sharad Sanghi, cofounder and chief executive at Neysa.

Additionally, Neysa is fostering collaborations with global system integrators, cloud service providers and AI-powered software providers, the company said in a statement.

Founded in 2023 by Sanghi and Anindya Das, Neysa provides a range of GenAI platforms and services aimed at assisting clients in overseeing their AI projects. These offerings ensure security across both cloud and edge environments.

This new development comes six months after the company raised $20 Mn (INR 166.4 Cr) as a part of its seed funding round co-led by Matrix Partners India, Nexus Venture Partners and NTTVC.

Neysa also said that the seed funding helped it to launch flagship platform Neysa Velocis, which enables on-demand access to high-performance computing infrastructure.

The startup also claims to have secured orders from paying customers across various sectors, including AI-first digital natives, media and entertainment companies, service providers, software vendors and the public sector.

This development comes at a time when homegrown SaaS and AI-based startups are convincing investors to make big bets on their business plans. 

For instance, AI-focused cloud provider E2E Networks secured INR 420.5 Cr (around $50 Mn) in an investment via preferential issue of equity shares, in August.

Meanwhile, Bengaluru-based SaaS AI cloud management startup aarna.ml has raised $1.2 Mn (about INR 10 Cr) as part of its Series A funding round from Exfinity Venture Partners, nearly a month ago.

Note: We at Inc42 take our ethics very seriously. More information about it can be found here.