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[Funding Alert] India-based Neysa Secures $20 Million in Funding

Neysa, a artificial intelligence (AI) cloud and platform-as-a-service startup, will utilize the fresh capital for expanding infrastructure required for strengthening its research and development team and for sales and marketing.

Neysa, a artificial intelligence (AI) cloud and platform-as-a-service startup, will utilize the fresh capital for expanding infrastructure required for strengthening its research and development team and for sales and marketing.

Matrix Partners India, Nexus Venture Partners, and NTTVC led a $20 million (about Rs 166 crore) financing round for a Mumbai-based artificial intelligence (AI) cloud and platform-as-a-service firm.

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The business, which is the second venture of Sharad Sanghi, the founder of data center services company Netmagic, said it will utilize the money for marketing and sales as well as for infrastructural expansion that will boost its R&D team.

When it comes to infrastructure and graphics processing units (GPUs), the rate of technological change is unimaginable, but that’s where players like us come in,” said chief executive Sanghi. “So, we will keep up with the latest and continue adapting as technology evolves. In fact, this creates a bigger demand from enterprises because the rate of obsolescence is so fast that they need someone who can handhold them.”

Read also – South Korea-Based AhnLab Secures USD133 Million in Funding

Sanghi and Anindya Das founded the business in 2023, and it provides a range of generative AI platforms and services to assist customers in managing their AI projects while guaranteeing security in cloud and edge environments.

Sanghi stated that the platform will be launched in July and that the company has already secured infrastructure. According to him, it has a sizable clientele in the network observability and AI cloud platform domains.

About Neysa

Neysa is dedicated to utilizing AI to its full potential for businesses. They offer Gen-AI platforms and services that enable their customers to effectively leverage AI/ML for their end users and business users.

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