Indian quantum computing startup QpiAI has raised $32 million (about ₹279 crore) in its Series A funding round. Avataar Ventures and the National Quantum Mission led the funding.
Some other new and existing investors also joined the round, but their names were not shared.
QpiAI plans to use the money to speed up the launch of its powerful quantum computer and expand its global presence. The company already has offices in Finland and the US.
“We were able to achieve great traction in the commercialisation of NISQ (Noisy Intermediate Scale 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,” said QpiAI founder Nagendra Nagaraja.
According to Managing Partner Mohan Kumar, Avataar Ventures believes quantum computing has the power to “advance mankind beyond imagination” and sees India as well-placed to lead in this emerging technology.
QpiAI is a company started in 2019 by Nagendra Nagaraja. It brings together artificial intelligence (AI) and quantum computing to help businesses in areas like logistics, finance, healthcare, life sciences, manufacturing, and energy.
The company makes both software and hardware. This includes quantum computers, a cloud platform for quantum computing, tools to build AI systems, and automated machine learning tools. QpiAI also offers special solutions for different industries.
For example, QpiAI Pharma helps find new medicines using AI and quantum computing. QpiAI Logistics makes supply chains work more smoothly by using smart algorithms.
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