Deeptech startup QpiAI raises $32 million in Series A round from Avataar Ventures

Indian quantum computing startup QpiAI has raised $32 Mn (around Rs 279 Cr) in its Series A funding round co-led by Avataar Ventures and National Quantum Mission.

Several existing and new investors also took part in the round, though their names were not disclosed.

The startup will use the new funds to speed up the launch of its utility-scale quantum computer and grow its presence worldwide. It also has offices in Finland and the US.

Read also- Healthtech Startup Truemeds Bags $20 Mn From Peak XV Partners

“We were able to achieve great traction in commercialisation 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,” 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.

About QpiAI 

Founded in 2019 by Nagendra Nagaraja, QpiAI combines artificial intelligence and quantum computing to create enterprise solutions across sectors like logistics, finance, healthcare, life sciences, manufacturing, and energy.

Advertisment

The company builds both software and hardware products, including quantum computers, a quantum cloud platform, AI agent-building tools, and automated machine learning platforms. It also provides industry-specific solutions.

For example, QpiAI Pharma uses AI and quantum computing for drug discovery, while QpiAI Logistics improves supply chain efficiency using advanced algorithms.