Mumbai-based Neysa, the country's first AI cloud and platform-as-a-service startup, has attracted $20 million in Seed funding. This substantial funding was contributed by Matrix Partners India, Nexus Venture Partners, and NTTVC to support the development and global expansion of the Generative AI cloud platform as a service and observability. The co-founders are distinguished technology leaders from India, Sharad Sanghi, who serves as the CEO, and Anindya Das, the CTO.
Neysa is making strides towards becoming a pivotal player in the Generative AI sector by offering a comprehensive selection of platform and services that will enable clients to efficiently explore, plan, deploy, and manage their Generative AI projects. Designed to ensure the security of AI landscapes in the cloud and the edge within a consumption-based model, plans to launch this suite of services are targeted for Q3 2024. These integrated solutions are also expected to promote the acceleration of Generative AI adoption in enterprises across India and on a global scale.
The $20 million injection of capital will be directed towards the expansion of Neysa's infrastructure and towards the acceleration of its research and development initiatives. Sharad Sanghi, Founder and CEO of Neysa, stated, "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."
Anindya Das, Co-founder and CTO of Neysa, further emphasised that Neysa's birth was propelled by a deep understanding of the challenges faced in managing and scaling clouds and the transformative potential of AI. According to him, "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."
Avnish Bajaj, MD of Matrix Partners India, expressed confidence in the leadership of Neysa, stating, "Enterprises globally, and even more so in India, are eager for expertise in helping them transition to AI native cloud computing... We are excited about the future of Neysa and the journey ahead." Similarly, Jishnu Bhattacharjee, MD of Nexus Venture Partners, affirmed that the skyrocketing global demand for AI necessitates an AI-native cloud platform that Neysa is all set to provide.
Vab Goel, Founding Partner of NTTVC and Board Member of NTT Data Inc., commented that Generative AI is a vital topic in every boardroom discussion. He believes that "Neysa will help enterprises gain competitive advantage by accelerating new era of productivity."
