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

EntrackrEntrackr · 3m 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.

Toystack.ai raises $325K in pre-seed round

EntrackrEntrackr · 1y ago
Toystack.ai raises $325K in pre-seed round
Medial

ToyStack.ai, a platform that enables developers and technology teams to deploy their code to the cloud, has raised $325,000 in pre-seed round from angel investors including D. Devaraj, founder of SDU LLP Chartered Accountants and Asit Shetty of Aveda Ventures. The proceeds will be used for product development, talent acquisition, sales, and marketing. Founded in 2023 by Mukund Gandlur, Sravan Aditya, Arun Gandlur, and Torun Mathias, ToyStack.ai is an automated deployment tool that allows developers and software teams to deploy to the Toystack cloud in minutes with a couple of clicks. ToyStack eliminates the time-consuming tasks of server setup, CI/CD (Continuous Integration and Continuous Deployment) pipelines, orchestration tools, and extensive configuration and security. The platform was built by developers for developers to automate the complexities involved in the cloud deployment process. ToyStack claims to have integrated a Large Language Model (LLM) to optimize its deployment process and reduce build times. By analyzing data from past build logs, error reports, and time metrics, the LLM identifies patterns and inefficiencies, providing actionable insights and suggestions for optimization.

iTuring raises $5 Mn in Series A round led by Dallas Venture and Mela Ventures

EntrackrEntrackr · 1m ago
iTuring raises $5 Mn in Series A round led by Dallas Venture and Mela Ventures
Medial

iTuring raises $5 Mn in Series A round led by Dallas Venture and Mela Ventures iTuring.ai, an enterprise-grade AI/ML platform for the Banking, Financial Services & Insurance (BFSI) sector, has raised $5 million in Series A funding round led by Dallas Venture Capital (DVC) and Mela Ventures. Prior to this, the company had raised $1.19 million in the same round co-led by SenseAI and Pentathlon Ventures along with participation from Ghosal Ventures. The proceeds will be used to accelerate the rollout of its proprietary, zero-code platform, which enables banks and insurers to automate every stage in the deployment of data science and machine learning. Co-founded in 2018 by Suman Singh, Amit Kumar, Mohammed Nawas and Srivalsan Ponnachath, iTuring.ai streamlines the entire lifecycle of data science and machine learning, enabling organizations to rapidly develop, deploy, manage, govern, and operationalize AI applications at scale. The company aims to deliver transparency, accountability, compliance, and reliability across every phase of model development, deployment, and operation. iTuring addresses the sector’s complexity by integrating advanced automation for data preparation, feature engineering, model development, deployment, and ongoing monitoring - all within a unified environment that meets the sector’s demanding regulatory and audit requirements. “Our vision from day one was to empower financial institutions to automate the full lifecycle of AI model development, deployment, and governance with a transparent, explainable, and audit-ready solution,” said Suman Singh, founder & CEO of iTuring. The company states that it delivers its AI/ML platform to clients across India, South Africa, and the United States. In the US, it has established a strategic partnership with one of the world’s leading payment platforms, enabling them to drive customer revenue growth and realize significant cost savings. iTuring claims that its clients in the BFSI sector have reported rapid project delivery and significant reductions in manual effort, with measurable gains in predictive performance.

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