QpiAI raises $32 million led by Avataar, NQM
The funding round also saw participation from both existing and new investors.
QpiAI integrates quantum computing and AI to tackle complex challenges across multiple industries. The company offers a suite of software platforms tailored to specific sectors, enhancing simulation, optimisation, and data analysis capabilities. QpiAI developed a full-stack quantum computer featuring proprietary hardware and software, enabling the delivery of practical quantum applications in materials science and drug discovery for global enterprises.
QpiAI founder Dr Nagendra Nagaraja said they created India's most powerful quantum computer with 25 qubits and a roadmap to scale up to 1,000 qubits by 2030. The technology is crucial for addressing complex challenges in agriculture, drug discovery, manufacturing, and other industries by leveraging quantum computing's natural alignment with high-dimensional data and quantum chemistry.
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Nagendra's background includes 25 years in tech with companies like Nvidia and Qualcomm, where he witnessed the rise of AI but recognised hardware inefficiencies and high power consumption.
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QpiAI has raised about $6.5 million so far and is currently raising an additional $32 million to accelerate building scalable, low-error quantum computers. Founded in 2019, QpiAI is accelerating India's quantum journey by making quantum computing practical, accessible, and globally relevant. The company filed over 11 patent applications to date. QpiAI plans to double its workforce to 200–250 employees and currently operates two facilities in Bengaluru.
The company secured funding to support operations for the next 3 to 3.5 years. Nagendra said it aims to launch a 64-qubit machine by late next year, with plans for error-corrected logical qubits, which are essential for commercial-scale applications like quantum chemistry simulations and precision medicine. Current qubit error rates are high, but QPI's new qubit design promises much longer coherence times, enabling effective error correction.
"We achieved great traction in the commercialisation of NISQ (Noisy Intermediate State Quantum) computers in education, research, and algorithmic prototyping.
Markets are ripe for utility-scale quantum computers with logical qubits, and we are leading efforts towards building these powerful systems."Mohan Kumar, managing partner at Avataar Ventures, said, "We believe quantum has the potential to advance mankind beyond imagination, and India has a unique opportunity to lead this frontier technology. QpiAI demonstrated strong technical and commercial leadership with its functional quantum computing technology and real-world applications at large automotive and life sciences customers.
They are on a path to lead the quantum wave for emerging markets with its advanced full-stack technology."
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