India’s AI landscape is heating up, and Neysa is ready to make its mark. The Mumbai-based startup has just bagged $30 million in funding, setting its sights on competing with global hyperscalers like AWS, Google Cloud, and Microsoft Azure. Led by tech entrepreneur Sharad Sanghi, Neysa aims to cater to the surging demand for AI solutions in India, projected to hit a staggering $17 billion by 2027.
Neysa offers a comprehensive suite of AI and machine learning infrastructure as a service. The startup provides tailored solutions that help businesses, both local and multinational, optimize their AI initiatives. This includes dedicated machine learning operations and consulting services to help clients identify the right infrastructure without overspending. Sanghi shared that many clients come in requesting vast amounts of resources, but Neysa often finds they need far less, showcasing its commitment to efficiency.
Founded in 2023, Neysa is not Sanghi’s first venture. With over 27 years of experience in data center solutions through his previous company, Netmagic, he’s now turning his expertise toward AI and cloud infrastructure. Neysa’s flagship platform, Velocis, launched in July, allows on-demand access to computing resources. Plans are already in motion to roll out additional services like a developer platform and inference-as-a-service by year’s end.
The $30 million Series A round, co-led by NTTVC, Z47 (formerly Matrix Partners India), and Nexus Venture Partners, follows a successful $20 million seed round earlier this year. This latest funding will bolster Neysa’s infrastructure, enhance research and development, and support its go-to-market strategy, paving the way for an integrated Gen AI acceleration cloud service.
With a current headcount of 55, Neysa plans to expand its team significantly, adding more engineers and sales staff. The startup has already attracted 12 paying customers and is running multiple proof-of-concept projects, with a customer base primarily in banking, manufacturing, and media sectors.
Sanghi also hinted at future growth, mentioning plans to tap into global markets with the next funding round, anticipated to close within six to nine months. While he didn’t disclose the target amount, he indicated it would be significantly larger than previous raises.
As Neysa gears up to carve out its niche in the competitive AI landscape, the tech world will be watching closely to see how it shapes the future of AI solutions in India and beyond.
