Neysa, an emerging player in the generative AI landscape, has successfully secured $30 million in a Series A funding round. This significant investment was co-led by prominent venture firms NTTVC, Z47 (previously known as Matrix Partners India), and Nexus Venture Partners. This latest funding round follows Neysa’s earlier achievement of raising $20 million in seed funding just six months ago, marking the startup as one of the few to complete two funding rounds within such a short timeframe.
The freshly acquired capital is poised to bolster Neysa’s AI infrastructure, facilitate advanced research and development initiatives, and support the impending launch of its Generative AI acceleration cloud service. This strategic move underscores the company’s commitment to enhancing its technological capabilities and offerings.
In tandem with scaling its infrastructure, Neysa is also intensifying partnerships with global system integrators, cloud service providers, and specialized AI software companies. These collaborations aim to create a robust ecosystem that will further enhance the reach and effectiveness of Neysa’s solutions.
Founded by industry veterans Sharad Sanghi and Anindya Das, Neysa is dedicated to aiding clients throughout the lifecycle of generative AI projects—from discovery and planning to deployment and ongoing management. The company prides itself on cost-effectively delivering these services, while ensuring the security of AI environments in both cloud and edge computing contexts through a consumption-based model.
Since its initial seed funding, Neysa has made significant strides, launching its flagship platform, Neysa Velocis, in July. This innovative platform provides users with on-demand access to high-performance computing infrastructure, making it available to a diverse clientele. Notably, Neysa has already secured orders from a variety of sectors, including AI, media, services, software, and the public sector.
The timing of Neysa’s growth coincides with a burgeoning AI market in India. According to a report by Nasscom and BCG, the country’s AI sector is projected to reach between $17 billion and $22 billion by 2027, with a robust compound annual growth rate (CAGR) of 25-35%. The recent year has seen several generative AI startups flourish, with notable funding rounds including Sarvam AI’s $41 million Series A and Ema’s $25 million, alongside Neysa’s own earlier seed funding of $20 million. With the addition of this latest $30 million in Series A funding, Neysa stands out as the most well-funded early-stage startup in the generative AI space. Other noteworthy competitors in this vibrant ecosystem include Vodex, KonProz, Dubpro.ai, PlanckDOT, Ayna, Simplismart, and Rabbit AI.
