Neysa to close Series A funding round soon: CEO Sharad Sanghi

Platform-as-a-service startup Neysais nearing the close of its Series A funding, said the company's CEO and Founder Sharad Sanghi. 

"We just launched our service two months back, and we have seen success. We raised a seed funding round of $20 million in March. We are now about to close our Series A funding,” said Sanghi, who doesn't believe there's a funding winter for good AI startups now.

Speaking at the 15th edition of TechSparks 2024, YourStory’s flagship conference, he said, “We were lucky—

with all the investors we had; [BV] Jagadeesh was my mentor. He built Exodus, one of India’s largest data centres and the first major data centre company in the world. The investors have had tremendous value beyond capital. Because of our first venture, we didn't have trouble raising another round."

Jagadeesh is a serial entrepreneur based out of Silicon Valley, who serves as the Chairman of Neysa. 

Mumbai-based Neysa's $20 million seed round was led by Matrix Partners India, Nexus Venture Partners, and NTTVC.

Founded by Sanghi and Anindya Das in 2023, Neysa offers a suite of generative AI platforms and services to help businesses plan, deploy and manage their AI projects, ensuring security across cloud and edge environments.

The AI startup claims to help enterprises deploy their GenAI projects 8X faster, saving over 60% of costs.

Prior to Neysa, Sanghi founded Netmagic in 1998, a homegrown data centre company, which was later acquired by Japanese telecom NTT. He serves on the board of the APNIC Foundation and co-chairs the Data Center Council of the Confederation of Indian Industry.

Sanghi has worked at prominent organisations such as AT&T Bell Labs, NSFNET (ANS), and IBM Global Network in the United States, contributing to projects across network management and engineering. 

He holds an electrical engineering degree from IIT Bombay and a master’s from Columbia University, New York.