AI startup Neysa raises $20M from Matrix Partners India, Nexus Venture

Mumbai-based AI startup Neysa has raised $20 million in a seed funding round led by Matrix Partners India,  Nexus Venture Partners, Menlo Park, and California-based NTTVC.

Neysa plans to use the funds to expand infrastructure, accelerate research and development initiatives, and launch its services by the third quarter of 2024.

"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 (platform-as-a-service) ecosystem and our AI-engineered observability platform, in a way that provides demonstrable and tangible outcomes for their business," said Sharad Sanghi, Founder and CEO of Neysa, in a statement.

Sanghi co-founded the platform with Anindya Das, who serves as the company's CTO. Neysa primarily helps businesses discover, plan, deploy and manage their generative AI projects in a cost-effective manner.

"Enterprises globally, and even more so in India, are eager for expertise in helping them transition to AI native cloud computing and there is no better and more experienced team in India for them to partner with," said Avnish Bajaj, Managing Director at Matrix Partners India, in a statement.

Neysa claims that it can help enterprises save over 60% when deploying their GenAI projects and help deploy them 8X faster.