Sharad Sanghi, the man among the first to invest in India’s data centre sector, is now betting on Gen AI with a new venture, Neysa. Neysa, which will be India’s first AI and cloud and platform as a service startup has secured a $20 million in a Seed funding round led by Matrix Partners India, Nexus Venture Partners and NTTVC. 

Sanghi is joined by Anindya Das as CTO. Sanghi is the founder of Netmagic, a data centre company that was acquired by NTT. 

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.

Sanghi told businessline that Neysa serves a significant gap for enterprise applications of GenAI, and will provide customers low code no code solutions to onboard enterprise solutions of GenAI. Nysa will also be venturing into cybersecurity solutions for enterprises using GenAI applications once the existing business model takes off. 

“Our capabilities and expertise in running data centre networks will serve us well in Neysa’s future business as well,” Sanghi further added.  Sanghi believes that he has a strong proposition at a time when the startup space for generative AI is already crowded. “Even before the seed round funding has been announced we are already getting interest for future rounds,” he explained. Sanghi notes that Neysa could raise $100 million in the next funding round. 

Infusion of capital is earmarked for expanding Neysa’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 CEO, Neysa.

Neysa CTO Das added, “Neysa 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”.

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

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