Generative AI startup Neysa raises $30 Mn in Series A

Neysa, a generative AI startup, has successfully raised $30 million in Series A funding, co-led by NTTVC, Z47 (formerly Matrix Partners India), and Nexus Venture Partners. 

The found follows Neysa's $20 million seed funding in April this year. It is also one of the few startups to close two rounds in six months.

The new capital will help Neysa scale its AI infrastructure, enhance research and development, and prepare for the launch of its Gen AI acceleration cloud service, the company said in a press release. 

In addition to scaling its technology, Neysa is strengthening collaborations with global system integrators, cloud service providers, and AI-focused software providers.

Founded by Sharad Sanghi and Anindya Das, Neysa focuses on assisting clients in the discovery, planning, deployment, and management of generative AI projects in a cost-effective manner, while also securing their AI environments in the cloud and at the edge through a consumption-based model.

Since its seed round, Neysa has made progress by launching its flagship platform, Neysa Velocis, in July. This platform offers on-demand access to high-performance computing infrastructure and is now available to the public. According to the company, it has secured orders from customers in sectors like AI, media, services, software, and the public sector.

According to a Nasscom-BCG report, India's AI market is projected to reach $17-22 billion by 2027, growing at a CAGR of 25-35%. This year, several generative AI startups have secured funding. TheKredible reports that Sarvam AI raised $41 million in Series A, followed by Ema with $25 million and Neysa with $20 million in seed funding. With an additional $30 million in Series A, Neysa has become the top-funded early-stage startup in this space. Other notable startups include Vodex, KonProz, Dubpro.ai, PlanckDOT, Ayna, Simplismart, and Rabbit AI