QpiAI, an Indian startup that claims to combine AI and quantum computing for enterprise use instances, has raised $32 million in a brand new funding spherical co-led by the Indian authorities as the corporate goals to broaden its presence and develop utility-scale quantum computer systems for markets all over the world.
The Indian authorities’s $750 million Nationwide Quantum Mission has co-led QpiAI’s all-equity Collection A spherical, alongside Avataar Ventures, at a post-money valuation of $162 million.
The funding displays India’s broader push to determine itself as a quantum computing energy. Launched in 2023, the Nationwide Quantum Mission is an Indian authorities initiative that views quantum computing as each an financial alternative and a nationwide safety crucial. This system goals to assist develop intermediate-scale quantum computer systems with 50-1,000 bodily qubits inside eight years throughout platforms together with superconducting and photonics. It additionally targets the event of satellite-based quantum communications, inter-city quantum distribution, multi-node quantum networks, magnetometers, and the design and synthesis of quantum supplies, together with superconductors, semiconductor buildings, and topological supplies for quantum machine fabrication.
QpiAI is considered one of eight startups chosen by the Nationwide Quantum Mission, every receiving an preliminary grant of as much as $3.5 million. Amongst these firms, the Bengaluru-headquartered startup, which has subsidiaries within the U.S. and Finland, says it has constructed India’s first full-stack quantum pc, known as QpiAI-Indus, which it launched in April with 25 superconducting qubits.
Based in 2019, QpiAI says it integrates quantum computing and AI to supply optimization capabilities in areas comparable to manufacturing, industrial, transportation, finance, pharma, and supplies. The startup says it has developed specialised software program, together with its proprietary {hardware}, to help real-world quantum purposes in fields comparable to supplies science and drug discovery.
“Quantum can really make sure AI is robust,” mentioned QpiAI founder and CEO Nagendra Nagaraja in an interview.
The startup views simulation, drug synthesis, and materials discovery as a number of the key use instances the place the mix of AI and quantum might present a aggressive edge.
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“Because the design space of a quantum chip is very, very big, and to actually get optimal qubits, which is important when we integrate thousands of qubits to get logical qubits for error correction, AI plays a bigger role there,” Nagaraja informed TechCrunch.
QpiAI plans to launch its 64-qubit quantum pc in November, with availability to prospects anticipated by the second or third quarter of subsequent 12 months, Nagaraja mentioned.
The corporate can also be working to begin manufacturing its quantum {hardware} domestically in 2026. At present, it assembles 80% of its machines in-house.
QpiAI employs a 100-person crew, comprising 25 PhDs from worldwide establishments or from Indian institutes. About 50 of its staff are primarily based in India. The corporate says it has round 20 prospects in India and the U.S., together with the Indian authorities, which makes use of its infrastructure to check algorithms.
In response to the corporate, QpiAI has been worthwhile at EBITDA degree for the previous three years, with roughly 60% gross margins and 20% to 30% web margins, Nagaraja informed TechCrunch.
With the recent funding, QpiAI plans to enter new markets together with Singapore and the Center East. It additionally goals to allocate funds for its native manufacturing plans and scale its operations to develop a 100-logical qubit system by 2030.
In June of final 12 months, QpiAI raised $6.5 million in a pre-Collection A spherical led by YourNest and SVCL at a post-money valuation of round $30 million.
Nagaraja informed TechCrunch that QpiAI has a three- to four-year runway, even with out accounting for its profitability. He additionally mentioned the startup is contemplating an preliminary public providing in both 2026 or 2027.
The Nationwide Quantum Mission’s help extends past QpiAI. The Indian authorities’s program can also be backing startups comparable to QNu Labs (engaged on quantum-safe networks), Dimira Applied sciences (cryogenic cables), PrenishQ (diode-laser programs), and QuPrayog (optical atomic clocks). It has additionally supported Quanastra (cryogenic programs and superconducting detectors), Pristine Diamonds (diamond-based sensing supplies), and Quan2D Applied sciences (single-photon detectors for quantum communication).
“We plan to continue to support home-grown product companies like QpiAI to help them expand into large enterprises and position India as global leaders in quantum technologies,” mentioned Ajai Chowdhry, chairman of India’s Nationwide Quantum Mission, in a ready assertion.
