Neysa, an Indian AI infrastructure startup, has secured backing from U.S. private equity firm Blackstone as it scales domestic compute capacity 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 invest up to $600 million of primary equity in Neysa, giving Blackstone a majority stake, Blackstone and Neysa told TechCrunch. The Mumbai-headquartered startup also plans to raise an additional $600 million in debt financing as it expands GPU capacity, a sharp increase from the $50 million it had raised previously.
The deal comes as demand for AI computing surges globally, creating supply constraints for specialized chips and data center capacity needed to train and run large models. Newer AI-focused infrastructure providers — often referred to as “neo-clouds” — have emerged to bridge that gap by offering dedicated GPU capacity and faster deployment than traditional hyperscalers, particularly for enterprises and AI labs with specific regulatory, latency, or customisation requirements.
Neysa operates in this emerging segment, positioning itself as a provider of customized, GPU-first infrastructure for enterprises, government agencies, and AI developers in India, where demand for local compute is still at an early but rapidly expanding 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 SanghiImage Credits:Neysa
Ganesh Mani, a senior managing director at Blackstone Private Equity, said his firm estimates that India currently has fewer than 60,000 GPUs deployed — and it expects the figure to scale up nearly 30 times to more than two million in the coming years.
That expansion is being driven by a combination of government demand, enterprises in regulated sectors such as financial services and healthcare that need to keep data local, and AI developers building models within India, Mani told TechCrunch. Global AI labs, many of which count India among their largest user bases, are also increasingly looking to deploy computing capacity closer to users to reduce latency and meet data requirements.
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The investment also builds on Blackstone’s broader push into data center and AI infrastructure globally. The firm has pr …