Indian Startup Neysa Secures $30M to Compete in AI Market

In a significant move within the burgeoning indian AI landscape, Neysa, a startup founded by seasoned tech entrepreneur Sharad Sanghi, has successfully raised $30 million to establish itself as a competitor against global AI hyperscalers. Despite india not being recognized as a leader in the global AI innovation arena, the demand for artificial intelligence solutions is rapidly increasing as local businesses seek efficiencies and tech companies position AI as a comprehensive solution for various challenges.

According to a joint report by the IT industry body Nasscom and consulting firm BCG, India’s AI market is projected to reach a substantial $17 billion by 2027, underscoring the potential for startups like Neysa to thrive in this environment.

Based in Mumbai, Neysa aims to capitalize on this growth by providing AI and machine learning infrastructure along with platform as a service tailored to the needs of both local and multinational businesses. The startup differentiates itself by offering dedicated machine learning operations and infrastructure consulting teams, which assist clients in determining the appropriate scale for their infrastructure and customizing their AI models to fit specific requirements.

Before launching Neysa with his former colleague Anindya Das in 2023, Sanghi amassed over 27 years of experience at Netmagic, a data center provider that was acquired by Japan’s NTT Data in 2016. He expressed that his journey towards focusing on cloud infrastructure and AI began in 2022, but it wasn't until his resignation as managing director and CEO of Netmagic in june 2023 that he was able to fully commit to his new venture.

“I started at Neysa with a view of providing infrastructure as a service, platform as a service, inference as a service, the services layer around ML, as well as the platforms that we need for developers,” Sanghi explained in a recent interview with TechCrunch.

With its innovative offerings and strategic vision, Neysa is poised to play a vital role in the evolving AI landscape of india, positioning itself as a key player in a market that is set for explosive growth in the coming years.
For more interesting updates wa click and follow Indiaherald WhatsApp channel

Find out more:

Neysa

Sindujaa D N

22/10/2024 06:10 AM