\t\t\t\t\t\tSUMMARY<\/p>\n
The Bengaluru-based deeptech startup raised funds from Avataar Ventures, National Quantum Mission, among others<\/p>\n
QpiAI will deploy the freshly raised funds to accelerate delivery of its utility scale quantum computer and expand its global footprint<\/p>\n
The company competes with the likes of QNu Labs and Quanfluence<\/p>\n
Deeptech startup QpiAI has raised $32 Mn (around INR 279 Cr) in its Series A funding round co-led by Avataar Ventures and National Quantum Mission.<\/p>\n
The round also saw participation from a host of undisclosed existing and new investors.<\/p>\n
The Bengaluru-based company will deploy the freshly raised funds to accelerate delivery of its utility scale quantum computer and expand its global footprint. The company also has offices in Finland and the US.<\/p>\n
\u201cWe were able to achieve great traction in commercialisation of NISQ (Noisy Intermediate State Quantum)\u00a0 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,\u201d said QpiAI founder Nagendra Nagaraja.<\/p>\n
Founded in 2019 by Nagaraja, QpiAI integrates artificial intelligence and quantum computing in enterprise solutions for sectors including logistics, finance, healthcare, life sciences, manufacturing, and energy.<\/p>\n
It manufactures both \u2014 software and hardware solutions including quantum computer, quantum cloud platform, multi AI agent system building software, automated machine learning operation platforms and much more. The company also offers industry-specific products.<\/p>\n
For instance, its QpiAI Pharma is a hybrid AI and quantum computing platform which facilitates computational drug discovery. Similarly, QpiAI Logistics streamlines supply chain solutions by leveraging advanced algorithms.<\/p>\n
India\u2019s Quantum Computing Era<\/p>\n
As India is undergoing its technological makeover, the government is also looking to enhance the country\u2019s quantum computing capabilities.<\/p>\n
Quantum computing leverages the principles of quantum mechanics like superposition, entanglement, and quantum interference. These principles result in faster and wider information processing compared to classic computers. Unlike classic computers, quantum computers use qubits, which can exist both in 0 and 1 simultaneously.<\/p>\n
These computers are used in several complex operations including satellite communication, drug discovery, metrology, cybersecurity, designing semiconductors, national security and much more.<\/p>\n
In 2023, the Centre approved the National Quantum Mission<\/a> (NQM) with an outlay of INR 6,003.65 Cr over the period of eight years. Under this mission, the government is working towards establishing four thematic hubs (T-Hubs) for quantum computing, quantum communication, quantum sensing and metrology, and quantum materials and devices in top academic and R&D institutes.\u00a0<\/p>\n The mission also focuses on boosting startups working in this segment.<\/p>\n Recently, the think tank NITI Aayog partnered with the Data Data Security Council of India<\/a>, calling for establishing a task force to enhance India\u2019s quantum security strategy.<\/p>\n Besides, there are several deeptech startups working towards making this mission a success.<\/p>\n In December 2024, quantum technology startup Quanfluence raised $2 Mn<\/a> to scale up its near-term products and accelerate development of its quantum computer.<\/p>\n