India's artificial intelligence market is rapidly growing. Although the country is not yet at the forefront of global AI innovation, the demand for AI among businesses is continuously increasing. According to a joint report by the IT industry association Nasscom and consulting firm BCG, the Indian AI market is expected to reach $1.7 billion by 2027. Against this backdrop, the recently established startup Neysa is actively seizing the opportunity to provide AI solutions to domestic and international companies.
Neysa is a startup headquartered in Mumbai, led by seasoned tech entrepreneur Sharad Sanghi. Sanghi previously worked at data center provider Netmagic for over 27 years and was acquired by Japan's NTT Data in 2016. In 2023, he co-founded Neysa with former colleague Anindya Das, focusing on cloud infrastructure and AI. Sanghi mentioned in an interview that he hopes to provide services such as Infrastructure as a Service (IaaS), Platform as a Service (PaaS), and Inference as a Service (IaaS) to help developers smoothly carry out AI-related work.
Neysa's flagship product, Velocis, was launched in July of this year, aiming to provide on-demand computing infrastructure for enterprise customers. Meanwhile, Neysa plans to launch a developer platform and Inference as a Service by the end of the year. To enhance infrastructure management and AI workload security, the company is also developing related observability tools.
Neysa is currently facing competition from global cloud service giants, including traditional suppliers like AWS, Google Cloud Platform, and Microsoft Azure, as well as emerging companies like CoreWeave and Lambda Labs. Sanghi states that Neysa's flexibility is one of its biggest competitive advantages. They offer choices between public cloud and private clusters, and all their platforms are based on open-source technology, ensuring customers are not locked into a specific platform.
To assist local enterprises that have invested heavily in infrastructure but are unsure of how to choose, Neysa also offers consulting services. Sanghi pointed out that many clients initially request far more GPUs than they actually need, allowing them to provide more reasonable solutions for their clients.
Neysa successfully raised $30 million in its recently completed Series A funding round, led by NTTVC, Z47 (formerly Matrix Partners India), and Nexus Venture Partners. Previously, the company completed a $20 million seed round at the beginning of the year. Sanghi said that the funds will be used to enhance infrastructure, improve R&D capabilities, and expand the market. Currently, Neysa has a team of 55 people and plans to further increase the number of engineers and sales personnel.
Currently, Neysa has about 12 paying customers, with 70% opting for private cloud and 30% on public cloud. Sanghi said that Neysa's clients are mainly concentrated in research institutions, AI startups, and enterprise clients, covering industries such as banking, manufacturing, and media. Although currently mainly targeting the Indian market, Neysa also plans to enter the international market through the next round of funding.
Key Points:
🌟 Neysa raised $30 million in Series A funding to expand AI infrastructure services.
🚀 The company currently has 12 paying customers, with 70% choosing private cloud.
🌍 Neysa plans to enter the international market in the future, with negotiations already underway.