Indian AI startup Neysa raises $20 million

Mumbai (Uttam Hindu News): AI cloud and platform-as-a-service (PaaS) startup Neysa on Wednesday said it has raised $20 million (about Rs 166 crore) from investment firms Matrix Partners India, Nexus Venture Partners and NTTVC. The startup, founded by Sharad Sanghi (CEO) and Anindya Das (CTO), said the funding will help it run its generative AI cloud platform as a service and overview for companies in India and global markets.

“Our goal is to leverage this funding to push the boundaries of innovation, helping our customers power our end-to-end generative AI PaaS ecosystem and our AI-engineered observability platform,” Sanghi said.

Neysa plans to release its services in the third quarter this year. “This funding will advance our mission to democratize AI, fueling innovation for companies of all sizes,” Das said. Neysa said this will help enterprises maintain control over their data and intellectual property.

Avnish Bajaj, MD, Matrix Partners, said, “Enterprises globally, and even in India, are eager to help the shift to AI native cloud computing and our team is well placed to partner with them in India. And is more experienced.”