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Neysa's $20M Seed Funding Sparks AI Innovation Wave!

Neysa, a startup specializing in AI cloud and platform-as-a-service, has successfully raised $20 million in seed funding. The funding round was led by Matrix Partners India, Nexus Venture Partners, and NTTVC. The company plans to utilize this funding to drive its Generative AI cloud platform as a service and observability offerings in both the Indian and global markets.

Co-founded by Sharad Sanghi and Anindya Das (CTO), Neysa aims to assist clients in discovering, planning, deploying, and managing their Generative AI projects in a cost-effective manner. Additionally, the company aims to secure AI landscapes in both cloud and edge environments using a consumption-based model.

Neysa's integrated approach and industry-specific solutions are expected to accelerate the adoption of Generative AI among enterprises in India and beyond. The Mumbai-based startup is set to launch its services in the third quarter of 2024.

Neysa's founder and CEO Sanghi expressed the company's commitment to innovation, stating, “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.”

CTO Das highlighted the company's vision for a future where AI integration is seamless, intuitive, and fundamentally changes the way we interact with technology.

The growing popularity of ChatGPT and other generative AI platforms has led venture capitalists to shift their focus to this emerging space. This trend is evident from the increasing investments in early-stage firms over the past few months.

In December 2023, Sarvam AI raised $41 million in a Series A round led by Lightspeed, while Ema secured $25 million, marking the second-largest funding for an early-stage startup in this space. Another player in this segment, Vodex, raised $2 million in its seed round from Unicorn India Ventures and Pentathlon Ventures.

Earlier this year, Bhavish Aggarwal’s artificial intelligence startup, Krutrim SI Designs, raised $50 million, achieving unicorn status and becoming the fastest startup to do so.


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