Investment to scale-up infrastructure and fuel R&D to democratize access to scalable AI solutions
MUMBAI, India, Oct. 23, 2024 /PRNewswire/ — Neysa, a pioneering AI Acceleration Cloud System provider, today announced it has raised $30 million in Series A funding. The round was co-led by existing investors NTTVC, Z47 (fka Matrix Partners India) and Nexus Venture Partners. This investment builds on Neysa’s successful $20 million seed round earlier this year, underscoring strong investor confidence in the company’s mission to accelerate Gen AI innovation, for Indian enterprises and public sector.
Since the seed funding round, Neysa has made significant strides in advancing its technology and market presence. The company’s flagship platform, Neysa Velocis, launched in July 2024, which enables on-demand access to high-performance computing infrastructure, is now generally available. Neysa has secured orders from paying customers across various sectors, including AI-first digital natives, media and entertainment companies, service providers, software vendors, and the public sector.
“This investment brings us closer to our vision of democratizing access to Gen AI and AI solutions for organizations across the world,” said Sharad Sanghi, Co-Founder and CEO of Neysa. “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.”
“We are excited to co-lead the Series A round and deepen our partnership with Neysa,” said Vab Goel, Founding Partner at NTTVC and Board Member of NTT DATA, Inc. “The team’s innovation and commitment to accelerating Gen AI solutions are creating a significant impact in the region’s tech ecosystem. We have seen firsthand how Sharad built India’s largest datacenter company from inception. His experience and track record are a critical differentiator in building and scaling the next-generation Gen AI cloud provider.”
Avnish Bajaj, Founder and Managing Director, Z47 added, “Sharad, Andy and Neysa team’s remarkable progress in a short period of time has been inspiring. 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.”
Jishnu Bhattacharjee, Managing Director, Nexus Venture Partners noted, “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.”
Neysa is strengthening collaborations with global system integrators, cloud service providers, and AI-focused software providers. These alliances will help advance its mission to democratize AI and bridge the digital divide. Through participation in government initiatives and industry collaborations, Neysa is shaping public discourse on AI adoption and innovation.
About Neysa
Neysa, an AI Acceleration Cloud System provider, democratizes AI adoption with purpose-built platforms and services for AI-native applications and workloads.
Co-founded by industry leaders, Neysa empowers businesses to discover, deploy, and scale Gen AI and AI use cases securely and cost-effectively.
Their flagship platforms, Neysa Velocis, Neysa Overwatch, and Neysa Aegis, accelerate AI deployment, optimize network performance, and safeguard AI/ML landscapes. Neysa is committed to enabling AI-led innovation across industries and geographies.
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SOURCE Neysa
