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QpiAI raises $32 million (INR 279 cr) in
Series A round led by Avataar Ventures and National Quantum mission of
Department of Science and Technology, Government of India. Current investors
and additional new investors also participated
·
QpiAI has developed a full-stack Quantum
Computer with proprietary hardware and software, and has delivered real world
Quantum applications in material science and drugs discovery to several global
enterprises
·
QpiAI team is led by Dr. Nagendra (ex Nvidia,
Qualcomm) and consists of over two dozen PhDs from top-tier Quantum research
universities in the US and Europe; company has offices in India, Finland and
the US The funds will be used to accelerate delivery of its utility scale
Quantum computer and expand globally
Dr Nagendra Nagaraja CEO and Founder of QpiAI quoted “We thank our
investors who enabled us to take QpiAI to next level. We were able to achieve
great traction in commercialization of NISQ (Noisy Intermediate State
Quantum) computers used for education, research and algorithmic
prototyping. Markets are ripe for utility scale Quantum computers with logical
qubits and we are leading efforts towards building full stack utility scale
Quantum computers”
Mohan Kumar, Managing Partner at Avataar Ventures further added “ We
believe Quantum has the potential to advance mankind beyond imagination and
India has a unique opportunity to lead this frontier tech. QpiAI has
demonstrated a strong technical and commercial leadership with its functional
Quantum Computing technology and real-world applications at large automotive
and life sciences customers. They are on path to lead the Quantum-wave for the
emerging markets with its advanced full-stack technology. We have been inspired
by the vision, achievements and capabilities of the QpiAI team led by Dr.
Nagendra and are excited to partner with them in their growth journey.”
Dr Ajai Chowdhry, Chairman of Indian National Quantum Mission
further added “ NQM is formed with a mission to enable Quantum ecosystem
in India. We are early supporter of QpiAI and are proud of its achievements so
far. We are delighted that NQM’s support is helping QpiAI raise funds from
global investors and promote the Indian startup ecosystem in Quantum
technologies. QpiAI represents one of the successes of NQM. We plan to continue
to support home grown product companies like QpiAI to help them grow into large
enterprises and position India as a global leader in Quantum technologies. We
congratulate Dr Nagendra and his team on this financing round and look forward
to them achieving new commercial and technological milestones“
About QpiAI
QpiAI (https://www.qpiai.tech) is
a Bangalore based deep-tech company pioneering the convergence of Artificial
Intelligence and Quantum Computing to solve some of the world’s most complex
industrial and scientific challenges. QpiAI’s vertically integrated stack
enables seamless innovation across hardware, software, and applications. The
portfolio includes full-stack Quantum Computers (25 Qubit Indus and 8 Qubit
QVidya); QpiAI-Explorer, an education platform; QpiAI-Quantum, offering SDKs,
compilers, and simulators for quantum development; software products and
platforms such as QpiAI-Opt, QpiAI-Pharma, QpiAI-Logistics, QpiAI-Matter,
QpiAI- Pro and QpiAI-Agenthive across industries like manufacturing,
industrial, transportation, finance, pharma and materials.