Blackstone backs Neysa in up to $1.2B financing as India pushes to build domestic AI infrastructure

Blackstone backs Neysa in up to $1.2B financing as India pushes to build domestic AI infrastructure

Neysa, an Indian AI infrastructure startup, has secured backing from U.S. personal fairness agency Blackstone as it scales domestic compute capability amid India’s push to build homegrown AI capabilities.

Blackstone and co-investors, including Teachers’ Venture Growth, TVS Capital, 360 ONE Asset, and Nexus Venture Partners, have agreed to make investments up to $600 million of main fairness in Neysa, giving Blackstone a majority stake, Blackstone and Neysa told TechCrunch. The Mumbai-headquartered startup also plans to increase a further $600 million in debt financing as it expands GPU capability, a pointy enhance from the $50 million it had raised beforehand.

The deal comes as demand for AI computing surges globally, creating provide constraints for specialised chips and data heart capability wanted to prepare and run large fashions. Newer AI-focused infrastructure suppliers — often referred to as “neo-clouds” — have emerged to bridge that hole by providing devoted GPU capability and quicker deployment than conventional hyperscalers, significantly for enterprises and AI labs with particular regulatory, latency, or customisation necessities.

Neysa operates in this rising phase, positioning itself as a supplier of personalized, GPU-first infrastructure for enterprises, authorities businesses, and AI builders in India, the place demand for local compute is still at an early however quickly increasing stage.

“A lot of customers want hand-holding, and a lot of them want round-the-clock support with a 15-minute response and a couple of our resolutions. And so those are the kinds of things that we provide that some of the hyperscalers don’t,” said Neysa co-founder and CEO Sharad Sanghi.

Nesya co-founder and CEO Sharad SanghiPicture Credits:Neysa

Ganesh Mani, a senior managing director at Blackstone Private Equity, said his agency estimates that India at present has fewer than 60,000 GPUs deployed — and it expects the determine to scale up practically 30 occasions to more than two million in the coming years.

That expansion is being pushed by a mixture of presidency demand, enterprises in regulated sectors such as monetary companies and healthcare that want to preserve data local, and AI builders constructing fashions within India, Mani told TechCrunch. Global AI labs, many of which rely India among their largest person bases, are also more and more wanting to deploy computing capability nearer to customers to cut back latency and meet data necessities.

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The funding also builds on Blackstone’s broader push into data heart and AI infrastructure globally. The agency has beforehand backed large-scale data centre platforms such as QTS and AirTrunk, as nicely as specialised AI infrastructure suppliers including CoreWeave in the U.S. and Firmus in Australia.

Neysa develops and operates GPU-based AI infrastructure that permits enterprises, researchers, and public sector purchasers to prepare, fine-tune, and deploy AI fashions regionally. The startup at present has about 1,200 GPUs live and plans to sharply scale that capability, focusing on deployments of more than 20,000 GPUs over time as buyer demand accelerates.

“We are seeing a demand that we are going to more than triple our capacity next year,” Sanghi said. “Some of the conversations we are having are at a fairly advanced stage; if they go through, then we could see it sooner rather than later. We could see in the next nine months.”

Sanghi told TechCrunch that the bulk of the new capital might be used to deploy large-scale GPU clusters, including compute, networking and storage, while a smaller portion will go towards research and development and constructing out Neysa’s software platforms for orchestration, observability, and safety.

Neysa goals to more than triple its income next yr as demand for AI workloads accelerates, with ambitions to increase past India over time, Sanghi said. Founded in 2023, the startup employs 110 people across places of work in Mumbai, Bengaluru, and Chennai.

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