News on Medial

Related News

Decoding Neysa’s Series A round, valuation and shareholding pattern

EntrackrEntrackr · 1m ago
Decoding Neysa’s Series A round, valuation and shareholding pattern
Medial

Generative AI startup Neysa raised $30 million in its Series A round led by NTT Venture Capital with the participation of Nexus Venture Partners, Z47, and others. The Neysa’s board has allotted 1,11,532 Series A compulsory convertible preference shares at an issue price of Rs 20,430 and also allotted 12,592 equity shares to collectively raise Rs 252 crore or $30 million, according to its regulatory filing accessed from Registrar of Companies (RoC). NTT Ventures led the round with Rs 75.67 crore or $8.9 million, followed by Nexus Venture Partners and Z47 (formerly Matrix Partners India), each contributing Rs 67.26 crore ($7.9 million). Anchorage Capital invested Rs 16.8 crore, while Sharad Sanghi also allotted Rs 25.22 crore worth of equity shares. The new capital will help Neysa scale its AI infrastructure, enhance research and development, and prepare for the launch of its Gen AI acceleration cloud service. According to Entrackr’s estimates, the company will be valued at around Rs 1,090 crore or $128 million (post-allotment). Neysa is an AI cloud and platform-as-a-service (PaaS) startup that enables users to manage and scale Generative AI projects in the cloud. Its offerings include Nebula, a platform for deploying and scaling AI workloads; Palvera, which streamlines network intelligence; and Aegis, designed to secure AI/ML ecosystems against emerging threats. Mumbai-based startup Neysa has raised $50 million to date, including its $20 million seed round. According to startup data intelligence platform TheKredible, Nexus Venture Partners and Z47 are the largest external shareholders in the company, each holding a 16.22% stake, with NTT VC and Anchorage Capital holding 14.83% and 4.32% respectively. The company’s founders, Sharad Sanghi and Aninya Das, collectively own a 43.09% stake. Neysa has not reported any operating revenue till FY24 but earned interest income from fixed deposits with banks and security deposits amounting to Rs 13.87 lakhs during the fiscal year ending March 2024. The company incurred a net loss of Rs 3.1 crore in the same period.

Exclusive: Onsurity raises over $26 Mn in new round led by Creaegis

EntrackrEntrackr · 10m ago
Exclusive: Onsurity raises over $26 Mn in new round led by Creaegis
Medial

Employee healthcare platform Onsurity has raised Rs 219 crore or $26.4 million in a new round led by Creaegis, with the participation of existing investors Nexus Venture Partners and Quona Capital. The board at Onsurity has passed a special resolution to issue 10 equity and 6,302 series B1 CCPs at an issue price of Rs 3,48,089 each to raise Rs 219 crore or $26.4 million, its regulatory filing accessed for the Registrar of Companies (RoC) shows. Creaegis spearheaded the round with Rs 176.4 crore while existing investors Nexus Ventures and Quona Capital injected Rs 31.4 crore and Rs 11.9 crore, respectively. The company will use proceeds for growth, expansion, working capital requirements and general corporate purposes, as decided by the board. According to the startup data intelligence platform TheKredible, OnSurity has been valued at around Rs 1,032 crore or $124 million post-allotment. Following the fresh proceeds, Creaegis will hold 17.10% of the company while Nexus and Quona will command 28.22% and 12.82%, respectively. Founded in 2020 by Yogesh Agarwal and Kulin Shah, Onsurity offers subscription-based services that its customers can purchase and offer it to their full-time employees, contractors, interns and consultants. The company, through its subsidiary, offers business products including cyber insurance, D&O liability insurance, and commercial general liability insurance, among others. Onsurity has raised over $66 million to date including $24 million Series B round in October last year, and $16 million Series A in August 2021. Creaegis, the lead investor, recently closed its inaugural fund of about $426 million to support Indian startups. Its investment portfolio includes companies like Third Wave Coffee, Doceree, Medikabazaar, Zopper, and Kale Logistics.

Download the medial app to read full posts, comements and news.