The company, the second venture of data centre services provider Netmagic founder Sharad Sanghi, said the funds will be used for scaling up infrastructure and fuel research and development to democratise access to scalable AI solutions.
The latest funding comes after a $20 million round in April.
Founded in 2023 by Sanghi and Anindya Das, the company offers a suite of generative AI platform and services to help clients manage their AI projects, ensuring security across cloud and edge environments.
Its flagship platform Velocis, which provides on-demand access to high-performance computing infrastructure, was launched at the end of July.
Neysa serves around 12 customers across AI-first digital natives, media and entertainment companies, service providers, software vendors and the public sector.
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“We are seeing a lot of traction from overseas, including countries like the US, Europe, Japan and the Middle East. So, we will look at overseas markets very soon. Currently, we are seeing great demand from the Indian market itself,” said Sanghi.The startup expects a growth of 200-300% next year, aiming to almost treble its revenue.
“Next year will be much bigger than this year, not only because we will have a full 12 months of operations but also because the demand-supply dynamics are in our favour. There is more demand in the market than the supply of graphics processing units (GPUs). That’s why we believe that next year will be three times this year,” Sanghi said.
Commenting on the investment Vab Goel, founding partner at NTTVC, said, “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 a critical differentiator in building and scaling the next-generation Gen AI cloud provider.”
Avnish Bajaj, founder and managing director of Z47, said, “Neysa finds itself in the enviable position of having more demand than any other company I have seen at a similar stage and is a catalyst for digital transformation, not just an AI provider.”