AI cloud startup Neysa raises $20M in a seed round led by Matrix Partners, Nexus VP, NTTVC

AI cloud and platform-as-a-service startup Neysa has raised $20 million in a seed funding round led by Matrix Partners India, Nexus Venture Partners, and NTTVC.

The funding will help the startup drive the Generative-AI-cloud platform as a service and observability for India and global markets, as per the release.

Who are the founders?

Neysa was co-founded by India's renowned technology leaders, Sharad Sanghi, who serves as CEO, and Anindya Das, who serves as CTO.

Sanghi's extensive experience, notably founding Netmagic, India’s premier data centre company that NTT acquired, complements Das's profound expertise in cloud infrastructure and network design. B V Jagadeesh,  with his exceptional track record in Silicon Valley, will be Chairman.

Offering a suite of GenAI services

Neysa will offer a suite of Generative AI platform and services, helping clients discover, plan, deploy, and manage their Generative AI projects cost effectively and secure their AI landscapes in the cloud and at the edge in a consumption-based model.

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

Accelerating R&D initiatives 

With this funding, Neysa aims to expand infrastructure and accelerate 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”.

What did investors say about Neysa?

“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," said Avnish Bajaj, MD, Matrix Partners India.

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”.