Neysa has secured $20 million in seed funding led by Matrix Partners India, Nexus Venture Partners, and NTTVC, while Sprinto has amassed a similar amount in its Series B round.
Neysa raises $20m in seed funding
Neysa, an AI cloud and platform-as-a-service (PaaS) startup in India, has secured $20 million in seed funding led by Matrix Partners India, Nexus Venture Partners, and NTTVC.
Co-founded by Sharad Sanghi (CEO) and Anindya Das (CTO), Neysa offers a suite of generative AI platform and services. The integrated approach and industry vertical solutions help accelerate generative AI adoption in enterprises across India and globally.
Neysa is planning to release its services in Q3 2024.
Infusion of capital is earmarked for expanding Neysa’s infrastructure and accelerating its research and development initiatives.
“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,” Neysa founder and CEO Sharad Sanghi said in a media statement.
Sprinto raises $20m Series B funding
Sprinto, an automated risk and compliance software provider headquartered both in Bengaluru and San Francisco, has amassed $20 million in funding in its Series B round as it looks to expand its presence globally.
Led by Accel, the round also saw participation from existing investors Elevation Capital and Blume Ventures.
Sprinto said it will use the capital raised in the current round to strengthen its R&D and expand into new markets.
The startup, established in 2021, claims to help clients create a real-time monitoring system that provides visibility into the processes and policies governed by compliance checklists. According to the company, it has already extended its reach to over 75 countries.