India’s rapidly growing artificial intelligence market is attracting significant investments as local companies look to develop innovative solutions. Neysa, an AI infrastructure startup based in Mumbai, has recently raised $30 million in a funding round led by existing investors to expand its platform and take the fight to global tech giants.
Founded in 2023 by Sharad Sanghi, an industry veteran with over 25 years of experience, Neysa provides AI and machine learning infrastructure services to enterprises. The company’s flagship offering, Velocis, gives customers on-demand access to computing power. It also has a team of experts who help businesses determine the right infrastructure size and optimize machine learning models.
With the new capital, Neysa will enhance its existing products and launch new ones. Some key focuses include building out their developer platform, rolling out inference-as-a-service capabilities, and improving observability tools. The funds will support infrastructure expansion, R&D initiatives, and sales & marketing efforts. Neysa is targeting a broader cloud computing market projected to reach $17 billion in India by 2027.
The startup differentiates from competitors like AWS, GCP and Microsoft Azure by providing flexibility through both public and private cloud options. Their open-source approach and consultation services also aim to make AI adoption easier for local firms. Neysa currently has a team of 55 employees and around a dozen paying customers, with the majority opting for dedicated private clusters.
Going forward, Neysa eyes global markets and will look to raise more capital within the next year. Their vision is to create a full-stack AI acceleration platform and help more businesses leverage artificial intelligence’s potential through accessible and customized offerings. With India emerging as a hub of tech talent and innovation, companies like Neysa are well-positioned to carve a niche in the fast-growing local and worldwide AI industries.
