Mumbai-Based AI SaaS Cloud Startup Raises Fresh Capital
Neysa, a Mumbai-based artificial intelligence (AI) cloud and platform-as-a-service startup, has successfully raised $20 million in a recent funding round. The investment was led by prominent venture capital firms Matrix Partners India, Nexus Venture Partners, and NTTVC.
Expansion Plans and Utilization of Funds
The funding infusion will enable Neysa to bolster its infrastructure, particularly in enhancing its research and development capabilities. Additionally, the capital will be directed towards scaling up the sales and marketing efforts of the company.
Neysa’s Vision and Strategy
Sharad Sanghi, the CEO of Neysa and co-founder along with Anindya Das, expressed the company’s commitment to staying at the forefront of technological advancements, particularly in infrastructure and graphics processing units (GPUs). Sanghi emphasized the importance of adapting to evolving technologies to meet the demands of enterprises amidst rapid technological obsolescence.
Product Offerings and Market Focus
Neysa, established in 2023, provides a comprehensive suite of generative AI platform and services aimed at assisting clients in managing their AI projects efficiently while ensuring security across cloud and edge environments. With plans to launch its platform in July, Neysa aims to cater to a diverse clientele in both the AI cloud platform and network observability segments.
Global Expansion and Market Potential
While Neysa is initially focused on capturing the vast opportunities within the Indian market, Sanghi envisions building a globally renowned company leveraging the intellectual property created by the firm. The company intends to gain traction in India before expanding its footprint to other regions worldwide.
Investor Confidence and Strategic Partnerships
Avnish Bajaj, Managing Director of Matrix Partners India, expressed confidence in Neysa’s potential to address the growing demand for expertise in AI-native cloud computing. Similarly, Jishnu Bhattacharjee, Managing Director of Nexus Venture Partners, highlighted the meteoric rise in demand for AI globally and emphasized Neysa’s role in fulfilling this need.
Future Outlook and Growth Prospects
The funding round signifies a significant milestone for Neysa as it embarks on its journey to become a leading player in the AI SaaS cloud space. With strong investor backing and a clear vision for expansion, Neysa is poised to capitalize on the burgeoning opportunities in the AI market, both in India and globally.
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