Neysa has raised $30 million in Series A funding, co-led by investors including NTTVC and Nexus Venture Partners. Founded by Sharad Sanghi, the company aims to provide tailored AI solutions for emerging markets, following a successful $20 million seed round. Neysa’s platform enables organizations of various sizes to access scalable AI technologies, positioning itself as a key player in the digital transformation space.
Neysa, an artificial intelligence (AI) cloud solutions provider, has successfully raised $30 million in Series A funding. This funding round was co-led by notable investors including NTTVC, Z47 (previously Matrix Partners India), and Nexus Venture Partners. This new investment follows Neysa’s earlier achievement of securing $20 million during a seed funding round earlier in the year, demonstrating strong investor confidence. Founded by Sharad Sanghi, who also established the data center service provider Netmagic, Neysa aims to deliver tailored AI solutions specifically designed for emerging markets such as India. The company’s infrastructure is scalable and affordable, allowing organizations of various sizes to smoothly integrate AI technologies into their operations. This localized focus equips Indian enterprises across multiple sectors to compete effectively in an AI-driven landscape. Sharad Sanghi, the co-founder and CEO of Neysa, expressed that this funding is a significant step towards realizing their vision of democratizing access to Generative AI solutions worldwide. Following their seed funding, Neysa launched its primary platform, Neysa Velocis, which provides on-demand access to high-performance computing resources to meet the growing demand from customers in diverse sectors, including AI-first ventures, media, and the public sector. Vab Goel, founding partner at NTTVC and Board Member of NTT DATA, emphasized the company’s innovative approach and commitment to advancing AI. He remarked on Sanghi’s expertise in scaling tech ventures, specifically referencing his success with India’s largest data center company. Avnish Bajaj of Z47 recognized Neysa’s remarkable progress, highlighting the organization’s role as a catalyst for digital transformation, ultimately empowering firms to realize AI’s full potential. Beyond technological advancements, Neysa is actively fostering partnerships with global system integrators and AI-centric software providers. These collaborations will enhance its mission to democratize AI and narrow the digital divide. By participating in government initiatives and public industry discussions, Neysa is influencing dialogue around AI adoption and innovation. Jishnu Bhattacharjee from Nexus Venture Partners applauded Neysa’s efforts in developing easily accessible AI infrastructure. He expressed excitement about deepening their partnership and noted Neysa’s pivotal role in expediting Generative AI implementation among enterprises.
Neysa’s recent funding announcement underscores the growing importance of AI-driven solutions in various sectors. Founded by seasoned entrepreneur Sharad Sanghi, Neysa seeks to fill the gap in AI accessibility for organizations in emerging markets. The involvement of prominent venture capital firms in Neysa’s funding rounds highlights the potential of such solutions in transforming industries as businesses adopt AI technologies to remain competitive in a rapidly digitalizing economy.
In conclusion, Neysa’s successful Series A funding of $30 million positions the company to expand its AI cloud offerings, targeting the needs of emerging markets like India. With strategic partnerships and a focus on democratizing AI access, Neysa is well-placed to impact the tech ecosystem significantly. The expertise of its founders and strong investor support further build confidence in its mission to advance AI adoption across various sectors.
Original Source: www.business-standard.com
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