Neysa, a Mumbai-based artificial intelligence (AI) startup, has recently raised $30 million (approximately Rs 252 crore) in a funding round co-led by prominent investors such as US-based NTTVC, Z47 (formerly Matrix Partners India), and Nexus Venture Partners. This investment is set to boost Neysa’s infrastructure and further its research and development efforts, aiming to democratize access to scalable AI solutions for businesses.
Scaling AI Solutions with Neysa
Founded in 2023 by Sharad Sanghi, the founder of Netmagic, and Anindya Das, Neysa has positioned itself as a key player in the AI cloud and platform-as-a-service (PaaS) landscape. The startup’s goal is to empower businesses with cutting-edge generative AI technologies while ensuring robust security across cloud and edge environments.
Neysa’s flagship platform, Velocis, offers on-demand access to high-performance computing infrastructure, facilitating seamless AI project management. Launched in July, Velocis has quickly gained traction due to its ability to provide scalable AI solutions that cater to businesses of all sizes.
According to Sharad Sanghi, Neysa’s latest funding round will help the company scale its operations, with a focus on improving its infrastructure and accelerating research efforts. “Our vision is to make AI solutions more accessible and scalable for businesses. The funds will allow us to enhance our offerings and meet the growing demand in the AI market,” Sanghi stated.
Rapid Growth and Future Outlook
Neysa’s growth trajectory is impressive, with the startup expecting to see a revenue increase of 200-300% next year. Sanghi notes that the startup’s current demand for high-performance computing and AI solutions outpaces supply, particularly in graphics processing units (GPUs). He anticipates that next year will bring even greater growth as Neysa continues to scale its operations.
“Next year will be bigger than this one,” said Sanghi. “The demand-supply dynamics are heavily in our favor, particularly when it comes to GPUs. We expect to see a threefold increase in our revenue as a result of the growing demand for our AI solutions.”
Neysa currently serves around 12 clients across various sectors, including AI-first digital natives, media and entertainment companies, service providers, and software vendors. The company has also garnered significant interest from overseas markets, including the US, Europe, Japan, and the Middle East. However, Neysa’s primary focus remains on the Indian market, where demand for AI solutions continues to rise.
Investor Confidence in Neysa’s Vision
Neysa’s successful funding round reflects strong investor confidence in the startup’s potential. Vab Goel, founding partner at NTTVC, expressed his enthusiasm for Neysa’s innovative approach to AI solutions and its impact on the region’s tech ecosystem.
“The team’s innovation and commitment to accelerating generative AI solutions are making a significant impact in the tech industry,” said Goel. “Sharad’s experience in building India’s largest data center company has proven to be a critical differentiator for Neysa, and we believe in his vision for scaling the next generation of AI cloud solutions.”
Similarly, Avnish Bajaj, founder and managing director of Z47, emphasized the unique position Neysa holds in the market. “Neysa is experiencing unprecedented demand compared to other companies at a similar stage. The company is more than just an AI provider—it is driving digital transformation across industries,” Bajaj noted.
Expanding into International Markets
With substantial demand from international markets, Neysa is poised for expansion beyond India. Sanghi has indicated that the company plans to explore overseas markets, particularly in the US, Europe, Japan, and the Middle East, where the demand for scalable AI solutions is rapidly growing.
“We are seeing a lot of traction from international markets, and expansion is on the horizon,” said Sanghi. “However, the Indian market remains our priority, given the significant demand for AI solutions here.”
Neysa’s Impact on AI and Cloud Technology
Neysa’s innovative approach to AI and cloud technology has set it apart in the competitive landscape. By offering a suite of generative AI platforms and services, the company is helping clients navigate the complexities of AI deployment while ensuring robust security.
As businesses increasingly adopt AI to enhance their operations, Neysa is well-positioned to meet this demand. Its flagship platform, Velocis, provides a reliable and scalable infrastructure for businesses to manage their AI projects effectively, ensuring high performance and security.
Looking Ahead
Neysa’s recent funding round and plans for expansion highlight the startup’s strong growth potential in the AI sector. With the backing of prominent investors and a clear vision for scaling its AI solutions, Neysa is on track to become a major player in the global AI market.
The startup’s focus on democratizing access to scalable AI technology will likely drive further innovation and growth, positioning Neysa as a leader in the AI cloud and platform-as-a-service space. As the demand for AI solutions continues to rise, Neysa’s ability to provide high-performance computing infrastructure and secure AI project management will be key to its success.
Final Thoughts
Neysa, an AI business based in Mumbai, achieved a noteworthy milestone with its $30 million fundraising round, which was spearheaded by NTTVC and other notable investors. Neysa is in a strong position to benefit from the rising demand for AI solutions in India and beyond thanks to its intentions to expand its infrastructure and improve its AI products. Neysa is poised to emerge as a major force in the AI and cloud technology field, propelling digital transformation across industries as the startup keeps innovating and growing.
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