Neysa, an India-based artificial intelligence (AI) cloud and platform-as-a-service startup (PaaS), has secured $20 million in seed funding.

Led by Matrix Partners India, Nexus Venture Partners, and NTTVC, the funding will help drive the generative-AI-cloud platform as a service and observability for India and global markets, Neysa said in a statement on Wednesday.

It is noted that Neysa will offer a suite of generative AI platform and services, helping clients discover, plan, deploy, and manage their generative AI projects cost effectively and secure their AI landscapes in the cloud and at the edge in a consumption-based model.

The firm’s integrated approach and industry vertical solutions will help accelerate generative AI adoption in enterprises across India and globally.

It is planning to release its services in the third quarter of 2024.

Thus, the infusion of capital is earmarked for expanding the firm’s infrastructure and accelerating its research and development initiatives.

“Our goal is to leverage this funding to push the limits of innovation, assisting our clients with the power of our end-to-end generative AI PaaS ecosystem and our AI-engineered Observability Platform, in a way that provides demonstrable and tangible outcomes for their business”, said Sharad Sanghi, Founder and Chief Executive Officer, Neysa.

Anindya Das, Co-founder and Chief Technology Officer of Neysa, added that the firm was conceived from a deep understanding of the day-to-day challenges faced in managing and scaling cloud and the transformative potential of AI.

“This funding boosts our mission to democratize AI, empowering companies of all sizes to ignite innovation and drive growth,

“We’re building a future where AI integration is seamless, intuitive, and fundamentally changes the way we interact with technology,” he added.

Sanghi and Das are both seen as India’s recognized technology leaders.

Sanghi’s background, including the founding of Netmagic, an India-based data center company which was acquired by NTT, complements Das’s deep expertise in cloud infrastructure and network design.

Meanwhile, B V Jagadeesh, with his exceptional track record in Silicon Valley, will be Chairman.

“Having known Sharad and Andy for a long time, it is our privilege to partner with them on their next venture,” said Avnish Bajaj, Managing Director, Matrix Partners India.

“Enterprises globally, and even more so in India, are eager for expertise in helping them transition to AI native cloud computing and there is no better and more experienced team in India for them to partner with,

“We are excited about the future of Neysa and the journey ahead,” he added.

Jishnu Bhattacharjee, Managing Director of Nexus Venture Partners, said that meteoric rise of demand for AI globally calls for AI-native cloud platform that Neysa is all set to offer.

“Having known and backed Sharad and Andy previously at Netmagic, we are thrilled to partner with them again in Neysa’s journey, as they shape the future of AI cloud services,” he added.

Vab Goel, Founding Partner NTTVC and Board Member of NTT Data Inc, said that generative AI is key topic of every board room discussion, and Neysa will help enterprises gain competitive advantage by accelerating new era of productivity.

“We are excited to continue our partnership with Sharad and Andy,” he added.

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