The Indian artificial intelligence market is booming and is expected to reach US$17 billion by 2027. In this market full of opportunities, the startup Neysa stands out and is committed to providing advanced AI solutions to domestic and foreign enterprises. The editor of Downcodes will provide you with an in-depth analysis of Neysa's business model, development strategy and financing situation, showing how this emerging AI company seizes opportunities and achieves rapid growth in a highly competitive market.
India's artificial intelligence market is developing rapidly, and although the country is not yet at the forefront of the global competition for AI innovation, corporate demand for AI is growing. According to a joint report by IT industry association Nasscom and consulting firm BCG, India's AI market is expected to reach $17 billion by 2027. Against this background, Neysa, a newly established startup, is actively seizing this opportunity to provide AI solutions to domestic and foreign companies.
Neysa is a Mumbai-based startup led by veteran tech entrepreneur Sharad Sanghi, who previously worked at data center provider Netmagic for over 27 years and was acquired by Japan's NTT Data in 2016. In 2023, he founded Neysa with former colleague Anindya Das to focus on cloud infrastructure and AI. Sanghi mentioned in the interview that he hopes to provide enterprises with infrastructure-as-a-service, platform-as-a-service, inference-as-a-service and other services to help developers smoothly carry out AI-related work.
Neysa's flagship product, Velocis, was launched in July this year and is designed to provide enterprise customers with on-demand computing infrastructure. Meanwhile, Neysa also plans to launch a developer platform and inference-as-a-service by the end of the year. The company is also developing observability tools to improve infrastructure management and AI workload security.
Neysa currently faces competition from global cloud service giants, including traditional providers such as AWS, Google Cloud Platform and Microsoft Azure, as well as emerging companies such as CoreWeave and Lambda Labs. Sanghi says Neysa's flexibility is one of its biggest competitive advantages. They offer a choice of public cloud and private clusters, and all of their platforms are based on open source technology, so customers are not locked into a specific platform.
To help local businesses who are spending a lot on infrastructure but don't know what their options are, Neysa also offers consulting services. Sanghi noted that many customers initially requested far more GPUs than they actually needed, allowing them to provide more reasonable solutions to their customers.
Neysa successfully raised US$30 million in a just-completed Series A round of financing co-led by NTTVC, Z47 (formerly known as Matrix Partners India) and Nexus Venture Partners. Previously, the company completed a $20 million seed round at the beginning of the year. Sanghi said the funds will be used to enhance infrastructure, enhance research and development capabilities and expand markets. Currently, Neysa's team size is 55 people, with plans to further add engineers and sales staff.
Currently, Neysa has about 12 paying customers, 70% of which choose private cloud, while 30% are on public cloud. Sanghi said Neysa’s customers are mainly concentrated in research institutions, AI startups and enterprise customers, covering industries such as banking, manufacturing and media. Although it is currently focused on the Indian market, Neysa also plans to enter the international market through its next round of financing.
Highlight:
Neysa received US$30 million in Series A financing to expand AI infrastructure services.
The company currently has 12 paying customers, 70% of whom choose private cloud.
? Neysa plans to enter international markets in the future and negotiations are already underway.
All in all, Neysa has shown great potential in India's booming AI market with its flexible business model, strong technical strength and successful financing. Its future development is worth looking forward to, and the editor of Downcodes will continue to pay attention to its dynamics.