Neysa bags $30M in Series A funding co-led by NTTVC, Z47, and Nexus Venture Partners

AI cloud startup Neysahas secured $30 million in Series A funding co-led by its existing investors NTTVC, Z47 (formerly Matrix Partners India), and  Nexus Venture Partners.

The Mumbai-based firm aims to drive Gen AI innovation for Indian enterprises and the public sector. The fresh capital will be utilised to expand its AI infrastructure, enhance R&D efforts, and prepare for the launch of its Gen AI Acceleration Cloud Service.

“This investment brings us closer to our vision of democratising access to Gen AI and AI solutions for organizations across the world. We're thrilled with the progress we've made since our seed round. The general availability of Neysa Velocis and the onboarding of customers across key sectors validate our approach. By offering purpose-built, cost-effective AI-native solutions, we empower organizations to innovate confidently in a world that is being reshaped by AI,” said Sharad Sanghi, Co-founder and CEO of Neysa.  

Sanghi had formally disclosed that the company is finalising it's Series A round at the 15th edition of TechSparks 2024, YourStory’s flagship conference.

Neysa, founded by Sanghi and Anindya Das in 2023, 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.

“We are excited to co-lead the Series A round and deepen our partnership with Neysa. The team’s innovation and commitment to accelerating Gen AI solutions are creating a significant impact in the region’s tech ecosystem,” said Vab Goel, Founding Partner at NTTVC and Board Member of NTT DATA, Inc.

The firm’s flagship platform, Neysa Velocis, launched in July 2024, is now generally available, offering on-demand access to high-performance computing infrastructure. The platform has already secured orders from paying customers across various sectors, spanning across AI-driven digital natives, media and entertainment firms, service providers, software vendors, and the public sector.

"Neysa finds itself in the enviable position of having more demand than any other company I have seen at a similar stage and is a catalyst for digital transformation not just an AI provider. We're privileged to support the company’s journey in empowering organizations to harness the full potential of AI with their world class AI technology platform and capabilities," said Avnish Bajaj, Founder and Managing Director, Z47.  

Along with scaling its technology, Neysa is also deepening collaborations with global system integrators, cloud service providers, and AI-centric software companies, to further its mission of democratising AI and bridging the digital divide. 

"By building out AI-native compute infrastructure and making that easily and securely accessible, Neysa is accelerating the adoption of Generative AI by the enterprises. We are thrilled to double-down on our partnership with Sharad, Andy and team, in their journey of building one of the most advanced AI clouds out of India for the world," said Jishnu Bhattacharjee, Managing Director, Nexus Venture Partners.