Neysa, an Indian AI Startup, Secures $20 Million Investment to Drive GenAI Adoption

In a significant development, Neysa, a burgeoning AI cloud and platform-as-a-service (PaaS) startup, announced on Wednesday that it has successfully secured a substantial investment of $20 million (equivalent to nearly Rs 166 crore). This funding round was spearheaded by prominent investment firms including Matrix Partners India, Nexus Venture Partners, and NTTVC.

The primary objective behind this infusion of capital is to propel the growth of Neysa's Generative AI cloud platform as a service and enhance observability solutions tailored for companies operating in both domestic and international markets. The brainchild of Sharad Sanghi (CEO) and Anindya Das (CTO), Neysa aims to revolutionize the landscape of AI-driven technologies with its innovative offerings.

Sharad Sanghi, expressing his optimism about the future prospects, articulated, "Our ambition is to utilize this funding to drive unparalleled innovation, equipping our clientele with the transformative capabilities of our comprehensive Generative AI PaaS ecosystem and our AI-engineered Observability Platform."

Neysa is gearing up to roll out its cutting-edge services in the third quarter (Q3) of the ongoing year. Anindya Das emphasized the company's commitment to democratizing AI, stating, "This funding injection further galvanizes our mission to democratize AI, enabling businesses of all scales to foster innovation and fuel their growth."

Furthermore, Neysa underlined its dedication to safeguarding the data and intellectual property of enterprises, thereby empowering them to maintain control over their assets. Avnish Bajaj, Managing Director of Matrix Partners India, highlighted the growing demand among enterprises, both globally and particularly in India, for adept guidance in transitioning to AI-native cloud computing. He asserted, "Enterprises globally, and even more so in India, are eager for expertise in helping them transition to AI native cloud computing and there is no better and more experienced team in India for them to partner with."

This significant investment not only underscores Neysa's potential but also reflects the growing appetite for AI-driven solutions in the corporate landscape, positioning the startup as a pivotal player in shaping the future of technology-driven innovation.