India’s Neysa bags $30M to compete with global AI hyperscalers


Even though India isn’t at the forefront of the global AI innovation battle, demand for AI in the country is growing as businesses seek efficiencies and tech companies promote AI developments as a cure-all. The South Asian nation is projected to have an AI market touching $17 billion by 2027, according to a joint report by the IT industry body Nasscom and consulting firm BCG.

Neysa, an Indian startup led by seasoned tech entrepreneur Sharad Sanghi, aims to leverage this growth opportunity by offering its AI solutions to local and multinational businesses in the country.

The Mumbai-based startup provides AI and machine learning infrastructure and platform as a service to enterprise customers based on their requirements. It also includes dedicated machine learning operations and infrastructure consulting teams to help customers find the relevant size for their infrastructure, and to fine-tune or customize the models they choose.

Before founding Neysa with his former colleague Anindya Das in 2023, Sanghi spent over 27 years at his previous venture and data center provider, Netmagic, which Japan’s NTT Data acquired in 2016. He told TechCrunch that he intended to focus on cloud infrastructure and AI in 2022 but was unable to do so. He resigned as the managing director and CEO of Netmagic in June 2023 to start fresh with Neysa.

“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,” he said in an interview.


https://techcrunch.com/2024/10/21/indias-neysa-bags-30m-to-compete-with-global-ai-hyperscalers/