India’s Neysa bags $30M to compete with global AI hyperscalers

Source: TechCrunch

India is projected to have an AI market touching $17 billion by 2027, according to a joint report by the IT industry body Nasscom and consulting firm BCG. Neysa, an Indian startup led by seasoned tech entrepreneur Sharad Sanghi, aims to leverage this growth opportunity by offering its AI solutions to local and multinational businesses in the country.

Neysa has raised $30 million in an all-equity Series A round co-led by its existing investors NTTVC, Z47 (formerly called Matrix Partners India), and Nexus Venture Partners. This follows up the startup’s $20 million seed round earlier this year. 

The Mumbai-based startup provides AI and machine learning infrastructure and platform as a service to enterprise customers based on their requirements. It also includes dedicated machine learning operations and infrastructure consulting teams to help customers find the relevant size for their infrastructure, and to fine-tune or customize the models they choose. The fresh funding, Sanghi said, will augment Neysa’s infrastructure, enhance its R&D, and broaden go-to-market. The funds will also set the base for the startup to launch its integrated Gen AI acceleration cloud service.

“I started at Neysa with a view of providing infrastructure as a service, platform as a service, inference as a service, the services layer around ML, as well as the platforms that we need for developers,” Sanghi said in an interview.

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