Sharad Sanghi's AI cloud startup Neysa raises $30 mn in Series A funding

Artificial intelligence (AI) acceleration Cloud system provider Neysa has raised $30 million in Series A funding.

The round was co-led by existing investors NTTVC, Z47 (formerly known as Matrix Partners India) and Nexus Venture Partners.

This investment builds on Neysa’s successful $20 million seed round earlier this year.

The company is the second venture of data centre service provider Netmagic’s founder Sharad Sanghi.

Neysa is focused on addressing the needs of emerging markets like India by providing purpose-built AI solutions tailored to organisations of all sizes.

By offering scalable and cost-effective AI infrastructure, Neysa enables businesses to adopt AI technologies without the complexity.

 

This localised approach ensures that Indian enterprises, across various sectors such as BFSI, GCCs and IT, can access the tools needed to compete in an AI-driven economy.

“This investment brings us closer to our vision of democratising access to Generative AI (Gen AI )and AI solutions for organisations across the world,” said Sharad Sanghi, co-founder and chief executive officer (CEO) of Neysa.

After the seed funding round, the company’s flagship platform, Neysa Velocis, was launched in July 2024. It enables on-demand access to high-performance computing infrastructure.

Neysa has secured orders from paying customers across various sectors, including AI-first digital natives, media and entertainment companies, service providers, software vendors, and the public sector, said the company. 

“We are excited to co-lead the Series A round and deepen our partnership with Neysa,” said Vab Goel, founding partner at NTTVC and Board Member of NTT DATA, Inc.

He added, “The team’s innovation and commitment to accelerating Gen AI solutions are creating a significant impact in the region’s tech ecosystem. We have seen firsthand how Sharad built India’s largest data centre company from inception. His experience and track record are critical differentiators in building and scaling the next-generation Gen AI Cloud provider.”

Avnish Bajaj, founder and managing director (MD), Z47 added, “Sharad, Andy and Neysa team’s remarkable progress in a short period of time has been inspiring. Neysa finds itself in the enviable position of having more demand than any other company I have seen at a similar stage. It is a catalyst for digital transformation, not just an AI provider. We’re privileged to support the company’s journey in empowering organisations to harness the full potential of AI with their world class AI technology platform and capabilities.”

In addition to scaling technology, Neysa is strengthening collaborations with global system integrators, Cloud service providers, and AI-focused software providers.

These alliances will help advance its mission to democratise AI and bridge the digital divide.

Through participation in government initiatives and industry collaborations, Neysa is shaping public discourse on AI adoption and innovation.

Jishnu Bhattacharjee, MD, Nexus Venture Partners, said, “By building out AI-native compute infrastructure and making that easily and securely accessible, Neysa is accelerating the adoption of Gen AI by enterprises. We are thrilled to double-down on our partnership with Sharad, Andy and team, in their journey of building one of the most advanced AI Clouds out of India for the world.”