Neysa, a cloud system provider specializing in artificial intelligence (AI) acceleration, has made headlines with a successful Series A funding round, raising $30 million. The round was co-led by NTTVC, Z47 (formerly known as Matrix Partners India), and Nexus Venture Partners, all of whom have previously supported the company. This investment follows Neysa’s impressive $20 million seed round earlier this year and brings the total funding for the AI-focused cloud provider to $50 million in 2024.
Neysa is the brainchild of Sharad Sanghi, the founder of India’s leading data center service provider, Netmagic. Sanghi’s vision for Neysa is to provide scalable, purpose-built AI infrastructure tailored to the unique needs of organizations in emerging markets like India. With this fresh capital infusion, Neysa is poised to accelerate its mission to democratize AI by making generative AI (Gen AI) solutions accessible to a broader audience.
Neysa’s Vision: Democratizing AI for Emerging Markets
Artificial intelligence has rapidly become one of the most transformative technologies of the 21st century. However, access to AI technology, especially high-performance AI infrastructure, remains limited in many emerging markets. This is where Neysa steps in. Neysa aims to bridge the digital divide by offering scalable, cost-effective AI infrastructure that allows businesses of all sizes to adopt AI technologies without dealing with the complexities of building their own infrastructure.
Neysa’s flagship platform, Neysa Velocis, launched in July 2024, provides on-demand access to high-performance computing infrastructure designed to accelerate AI and machine learning workloads. The platform has already gained traction, securing orders from a wide range of sectors, including AI-first digital natives, media and entertainment companies, software vendors, and public sector organizations.
Addressing the Needs of Emerging Markets
Emerging markets like India face unique challenges when it comes to AI adoption. Many enterprises, particularly in sectors such as banking, financial services, insurance (BFSI), global capability centers (GCCs), and IT services, are still in the early stages of digital transformation. Neysa’s localized approach ensures that businesses in these sectors can access the AI tools they need to compete in an AI-driven global economy.
Neysa’s platform focuses on making AI accessible to businesses of all sizes, not just large enterprises. By providing flexible, scalable infrastructure, Neysa allows small and medium-sized businesses (SMBs) to harness the power of AI without incurring the high costs traditionally associated with building and maintaining AI infrastructure.
Key Backers and Industry Leaders Support Neysa’s Growth
Neysa’s Series A funding round has brought in significant support from key venture capital firms. These include NTTVC, Z47, and Nexus Venture Partners, all of whom recognize Neysa’s potential to drive the next wave of AI innovation in emerging markets.
- Vab Goel, Founding Partner at NTTVC and Board Member of NTT DATA, Inc., expressed excitement about the opportunity to deepen their partnership with Neysa. He praised the team’s innovation and commitment to accelerating generative AI solutions, emphasizing the impact Neysa is having on the region’s tech ecosystem. Goel also highlighted Sharad Sanghi’s previous success in building India’s largest data center company, Netmagic, as a key differentiator in Neysa’s journey.
- Avnish Bajaj, Founder and Managing Director (MD) of Z47, noted Neysa’s remarkable progress in a short time, citing its unique position in the AI market with growing demand for its AI-native infrastructure. Bajaj described Neysa as a catalyst for digital transformation and underscored the importance of supporting the company’s mission to empower organizations through cutting-edge AI technology.
- Jishnu Bhattacharjee, MD of Nexus Venture Partners, pointed to Neysa’s world-class AI-native compute infrastructure as a driving force behind the accelerated adoption of generative AI by enterprises. Bhattacharjee expressed his enthusiasm for continuing the partnership with Neysa and supporting the company’s efforts to build one of the most advanced AI cloud systems in the world, originating from India.
Neysa Velocis: Unlocking the Power of AI for Businesses
At the core of Neysa’s offering is its flagship platform, Neysa Velocis. This platform provides businesses with the high-performance computing infrastructure required to handle AI workloads at scale. By offering on-demand access, Neysa Velocis eliminates the need for organizations to invest in expensive hardware or technical expertise, allowing them to focus on deploying AI solutions to drive business value.
Neysa Velocis is designed with a specific focus on emerging markets, where many businesses lack the resources to build their own AI infrastructure. The platform’s scalability ensures that organizations can start small and grow their AI capabilities over time, making it an ideal solution for businesses looking to embark on their AI journey.
Neysa’s local approach to AI infrastructure is particularly important in a market like India, where diverse sectors such as BFSI, IT, and the public sector are increasingly exploring AI to enhance operational efficiency and customer experience. By providing easy access to scalable AI solutions, Neysa is helping these industries unlock the full potential of AI.
Expanding Partnerships and Ecosystem
In addition to developing its technology, Neysa is actively building partnerships with global system integrators, cloud service providers, and AI-focused software vendors. These alliances are critical to advancing Neysa’s mission to democratize AI. By collaborating with established players in the tech ecosystem, Neysa can deliver integrated solutions that help businesses seamlessly adopt AI technologies.
These partnerships also position Neysa to play a leading role in the global AI landscape. As more organizations look to incorporate AI into their operations, Neysa’s scalable infrastructure will be a key enabler, helping them overcome the technical barriers that have traditionally slowed AI adoption.
Neysa’s involvement in government initiatives and industry collaborations further demonstrates its commitment to shaping the future of AI adoption and innovation. By actively participating in public discourse around AI, Neysa is helping to set the stage for broader AI integration across industries.
The Role of Generative AI in Neysa’s Strategy
Generative AI, or Gen AI, is at the forefront of Neysa’s innovation strategy. Gen AI has the potential to revolutionize industries by automating complex tasks, generating new content, and enhancing decision-making processes. Neysa’s platform is designed to support the deployment of Gen AI applications at scale, making it easier for organizations to leverage these powerful tools.
Generative AI applications are already being used across various sectors, from media and entertainment to healthcare and finance. Neysa’s platform enables businesses in these industries to deploy Gen AI solutions quickly and efficiently, reducing time to market and driving innovation.
The growing interest in Gen AI solutions is one of the key reasons behind the increased demand for Neysa’s platform. With businesses across the globe looking to harness the power of AI, Neysa is well-positioned to capitalize on this trend and lead the next wave of AI adoption.
Conclusion
Neysa’s $30 million Series A funding round is a significant milestone in the company’s journey to democratize access to AI. By providing scalable, cost-effective AI infrastructure, Neysa is helping businesses in emerging markets like India compete in an AI-driven global economy.
With strong backing from venture capital firms and a visionary leadership team, Neysa is poised to become a key player in the AI ecosystem. Its flagship platform, Neysa Velocis, has already gained traction, and with continued investment in technology and partnerships, Neysa is set to drive the next wave of AI innovation.
As Neysa continues to scale its operations and expand its ecosystem, it will play a critical role in shaping the future of AI adoption, both in emerging markets and on the global stage. The company’s commitment to making AI accessible to all businesses, regardless of size or technical expertise, positions it as a leader in the AI cloud services space.