Bengaluru-based deeptech startup QpiAI has raised $32 million (approximately ₹279 crore) in its Series A funding round, co-led by Avataar Ventures and India’s National Quantum Mission.
The round also saw participation from several unnamed existing and new investors. According to the company, the new capital will be used to speed up the delivery of its utility-scale quantum computer and expand its presence in international markets, including its offices in Finland and the United States.
“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.
Established in 2019, QpiAI focuses on integrating quantum computing and artificial intelligence into enterprise-grade solutions across industries such as logistics, finance, healthcare, life sciences, manufacturing, and energy. The startup develops both software and hardware, including a proprietary quantum computer, quantum cloud infrastructure, automated machine learning platforms, and multi-agent AI systems.
Among its product offerings, QpiAI Pharma combines AI with quantum computing for drug discovery, while QpiAI Logistics optimises supply chains using advanced algorithmic tools.
India’s Quantum Leap
India’s momentum in the quantum computing space has accelerated following the launch of the National Quantum Mission (NQM) in 2023, with a budget of ₹6,003.65 crore allocated over eight years. The mission aims to establish four thematic hubs focused on quantum computing, communication, sensing & metrology, and materials & devices, hosted by top academic and research institutions.
The initiative is also encouraging deeptech startups working in the quantum domain. Recent developments in the ecosystem include Quanfluence raising $2 million in December 2024 to expand its quantum computing initiatives, and QNu Labs securing ₹60 crore in Series A funding to advance quantum-safe cybersecurity, also backed by the NQM.
Additionally, the government think tank NITI Aayog, along with the Data Security Council of India, recently called for the creation of a national task force to shape India’s quantum security framework.
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