Homegrown deeptech startup QpiAI raises $32M to build quantum computers in India

Deeptech startup QpiAI on Friday said it raised $32 million in a Series A funding round led by Avataar Ventures and the National Quantum Mission of the Department of Science and Technology, Government of India. 

The startup will use the fresh capital to roll out an utility‑scale quantum computer along with the expansion of its global footprint. 

“We thank our investors who enabled us to take QpiAI to the next level. We were able to achieve great traction in the 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 Nagendra Nagaraja, CEO and Founder of QpiAI. 

Founded by Nagaraja, the Bengaluru-based startup has developed a full-stack quantum computer with proprietary hardware and software, and has delivered real-world quantum applications in material science and drug discovery to several global enterprises. 

Its team comprises over two dozen PhDs from top‑tier quantum research institutions in the US and Europe.

“We believe Quantum has the potential to advance mankind beyond imagination, and India has a unique opportunity to lead this frontier tech. QpiAI has demonstrated a strong technical and commercial leadership with its functional Quantum Computing technology and real-world applications at large automotive and life sciences customers,” said Mohan Kumar, Managing Partner at Avataar Ventures.

The company is integrating quantum computing and AI vertically to offer solutions to manufacturing, industrial, transportation, finance, pharma, and materials sciences sectors. 

QpiAI—with offices in India, Finland, and the United States—offers products such as QpiAI-pro, QpiAI-explorer, QpiAI-logistics, QpiAIopt, QpiAIML, QpiAI-pharma, and QpiAI-Matter.

“NQM is formed with a mission to enable the Quantum ecosystem in India. We are an early supporter of QpiAI and are proud of its achievements so far. We are delighted that NQM’s support is helping QpiAI raise funds from global investors and promote the Indian startup ecosystem in Quantum technologies. QpiAI represents one of the successes of NQM,” added Dr Ajai Chowdhry, Chairman of the Indian National Quantum Mission.