Neysa, a generative AI upstart that helps enterprises rapidly deploy AI solutions at scale, has announced closing of a $30Mn Series A round. The round, which comes just months after its $20Mn seed round earlier this year, was led by existing investors NTTVC, Z47 (formerly Matrix Partners India) and Nexus Venture Partners. Neysa’s rapid $50Mn early fundraise in a year, follows the fundraise spree that AI startups have been witnessing globally, and is a sign that VC activity in AI space is picking up speed in India as well.
Since its seed fund earlier this year, Neysa has already made its Neysa Velocis platform generally available. Velocis enables on-demand access to high-performance computing infrastructure and Neysa claims large orders from companies across media and entertainment, service providers, software vendors, and government.
“This investment brings us closer to our vision of democratizing access to Gen AI and AI solutions for organizations across the world,” said Sharad Sanghi, Co-Founder and CEO of Neysa. “We’re thrilled with the progress we’ve made since our seed round. The general availability of Neysa Velocis and the onboarding of customers across key sectors validate our approach. By offering purpose-built, cost- effective AI-native solutions, we empower organizations to innovate confidently in a world that is being reshaped by AI.” The company aims to “democratizes AI adoption” with purpose-built platforms and services for AI-native applications and workloads.
Neysa currently offers three AI solutions to enterprises — Velocis (which is generally available), Overwatch and Aegis. Velocis helps in accelerated deployment of AI products, providing MLOps & GPU Cloud to deploy, train and infer Gen AI and AI models out of the box. Overwatch is an AI powered network monitoring tool, that provides intelligent real-time monitoring and alerts with remediation via AI interpretation and insights across network. Aegis is a cyber security platform that provides protection against AI-specific attacks globally.
A NASSCOM report had pegged India’s AI demand to reach nearly $22Bn by 2027, growing at a CAGR of 25-35%. This, coupled with a high engineering talent pool, has led to the birth of several fast-growing AI upstarts in the country, with a slew of them raising multi-million VC investments amid global AI frenzy.
