India may not be leading the global AI innovation race, but the demand for AI in the country is on the rise as businesses look for ways to improve efficiency and technology companies push AI advancements as a solution to many problems. A report by Nasscom and BCG predicts that India’s AI market will reach $17 billion by 2027.
Neysa, a startup based in Mumbai and led by Sharad Sanghi, a seasoned tech entrepreneur, is capitalizing on this growing demand by offering AI solutions to both local and multinational businesses in India. The company provides AI and machine learning infrastructure and platform services tailored to the specific needs of enterprise customers. They also offer consulting services to help customers optimize their infrastructure and customize their AI models.
Sharad Sanghi, who spent over 27 years at Netmagic before founding Neysa in 2023, has a wealth of experience in the tech industry. He left his role as managing director and CEO of Netmagic in 2023 to focus on cloud infrastructure and AI with Neysa. The startup initially focused on providing infrastructure services and later launched Velocis, its flagship platform that offers on-demand computing infrastructure. Neysa plans to expand its product offerings by introducing a developer platform and inference-as-a-service in the near future.
What sets Neysa apart from its competitors, including global giants like AWS, Google Cloud Platform, and Microsoft Azure, is its flexibility in offering both public cloud and private clusters. The company’s open-source platforms provide clients with options and prevent them from getting locked into a specific service provider. Neysa also offers consultation services to help local businesses optimize their infrastructure and avoid overspending on unnecessary resources.
In a recent funding round, Neysa secured $30 million from investors like NTTVC, Z47, and Nexus Venture Partners. This funding will be used to enhance Neysa’s infrastructure, expand its research and development efforts, and strengthen its go-to-market strategy. The company also plans to launch its integrated Gen AI acceleration cloud service with this funding.
Neysa currently serves around 12 paying customers, with the majority opting for private clusters over public cloud services. While the company’s customer base is primarily in India, Neysa has plans to expand globally with its next round of funding. Talks for the next funding round have already begun, with expectations to close within the next six to nine months.
The startup aims to raise a significant amount in its next funding round to support its growth and meet the increasing demand for GPUs and other infrastructure. By expanding its team and focusing on direct and indirect sales, Neysa is poised to establish itself as a key player in the AI market, both in India and beyond.
