The generative AI startup Neysa has raised $30 million in Series A funding, with Nexus Venture Partners, Z47 (formerly Matrix Partners India), and NTTVC serving as co-leads.
The discovery comes after Neysa received $20 million in seed funding in April of this year. One of the few startups to close two rounds in six months is this one as well.
According to a press release from the company, the additional funding will assist Neysa in expanding its AI infrastructure, improving research and development, and getting ready to launch its Gen AI acceleration cloud service.
Neysa is expanding its technology and fortifying partnerships with cloud service providers, AI-focused software providers, and international system integrators.
Neysa was founded by Sharad Sanghi and Anindya Das with the goal of helping clients find, plan, deploy, and manage generative AI projects at a reasonable cost. The company also uses a consumption-based model to secure its clients’ cloud and edge AI environments.
Neysa has advanced since its seed round, launching Neysa Velocis, its flagship platform, in July. The public can now access this platform, which provides on-demand access to high-performance computing infrastructure. The business claims to have orders from clients in industries including artificial intelligence, media, services, software, and government.
India’s AI market is expected to grow at a compound annual growth rate (CAGR) of 25–35% to reach $17–22 billion by 2027, according to a Nasscom-BCG report. Funding has been obtained by a number of generative AI startups this year. According to TheKredible, Sarvam AI raised $41 million in Series A funding, with Ema coming in second with $25 million and Neysa with $20 million. Neysa has raised an additional $30 million in Series A funding, making it the most well-funded early-stage company in this sector. Other noteworthy startups are Rabbit AI, Vodex, KonProz, Dubpro.ai, PlanckDOT, Ayna, and Simplismart.
