Neysa in Talks for $200M Blackstone-Led Tranche to Deploy 20,000+ GPUs in India

Important: this story is at the in-talks stage — the round has been reported by sources but not closed or confirmed by the company.

Mumbai-based AI cloud platform Neysa is in the process of raising a $200 million tranche led by Blackstone and other existing investors, as part of its larger $1.2 billion round, according to two people familiar with the matter cited by Mint this week.

Blackstone is investing close to $150 million, with the remainder expected from investors including OTPP, TVS Capital, Nexus Venture Partners and 360 ONE Asset. Valuation details were not disclosed, and Blackstone and Neysa declined to comment.

Founded in 2023 by founder and CEO Sharad Sanghi, Neysa designs and operates GPU-based AI infrastructure in India for enterprises and institutions across financial services, technology, healthcare and public services. Blackstone became the majority shareholder in February 2026, when Neysa announced a $1.2 billion fundraise — about $600 million in equity plus $600 million in debt financing led by Blackstone.

The new tranche is expected to provide material impetus to Neysa's planned scale-up: the deployment of over 20,000 GPUs in India as demand for AI-led services heats up. It also illustrates a growing pattern — milestone-based financing in AI and data centres, where investors release capital against execution evidence (large contracts procured, capacity built) rather than upfront promises.

The broader tailwind is undeniable. The Union budget proposed a tax holiday up to 2047 for foreign companies providing cloud services globally while using Indian data centres, and KPMG estimates a $90 billion opportunity across the Indian data-centre value chain by FY35.