Latest news with #AvataarVentures
Time of India
4 days ago
- Business
- Time of India
Bengaluru-based QpiAI raises $32 million by Avataar Ventures and NQM
Bengaluru-based QpiAI, a company specialising in integrated AI and quantum solutions, has raised $32 million in funding. Avataar Ventures and the National Quantum Mission (NQM) led the investment round, with participation from new and existing investors, a TOI report stated. The funding will help QpiAI build more powerful and reliable quantum computers. The company aims to create quantum computers that can solve complex problems in industries like agriculture, drug discovery, and manufacturing. Founded in 2019, QpiAI combines quantum computing and artificial intelligence to address difficult challenges across various sectors. They offer software platforms designed for specific industries, improving simulation, optimization, and data analysis. QpiAI has developed a quantum computer with its own hardware and software, which it uses to create quantum applications for materials science and drug discovery. Explore courses from Top Institutes in Select a Course Category Data Science Data Analytics Product Management healthcare Others Project Management Digital Marketing Technology Degree Public Policy others Data Science Design Thinking Cybersecurity PGDM Management Artificial Intelligence Healthcare MCA Leadership CXO Finance Operations Management MBA Skills you'll gain: Duration: 10 Months IIM Kozhikode CERT-IIMK DABS India Starts on undefined Get Details Skills you'll gain: Duration: 10 Months E&ICT Academy, Indian Institute of Technology Guwahati CERT-IITG Prof Cert in DS & BA with GenAI India Starts on undefined Get Details Skills you'll gain: Duration: 11 Months E&ICT Academy, Indian Institute of Technology Guwahati CERT-IITG Postgraduate Cert in AI and ML India Starts on undefined Get Details Skills you'll gain: Duration: 11 Months IIT Madras CERT-IITM Advanced Cert Prog in AI and ML India Starts on undefined Get Details Skills you'll gain: Duration: 30 Weeks IIM Kozhikode SEPO - IIMK-AI for Senior Executives India Starts on undefined Get Details Dr. Nagendra Nagaraja, the founder of QpiAI, has 25 years of experience in the tech industry, including time at Nvidia and Qualcomm. He recognized the potential of quantum computing to overcome the limitations of traditional computing methods. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Ranked: The Most Stunning Underrated Coastal Getaways in Europe Learn More Undo Dr. 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." QpiAI plans to increase its workforce to 200–250 employees and is working to launch a 64-qubit machine by late next year. The company is also focused on developing error-corrected logical qubits, which are necessary for commercial applications. Live Events 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."
Business Standard
5 days ago
- Business
- Business Standard
QpiAI raises USD 32 million (INR 279 crore) in Series-A round led by Avataar Ventures and National Quantum Mission
VMPL New Delhi [India], July 17: Dr Nagendra Nagaraja CEO and Founder of QpiAI quoted "We thank our investors who enabled us to take QpiAI to next level. We were able to achieve great traction in commercialization 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" * QpiAI raises $32 million (INR 279 cr) in Series A round led by Avataar Ventures and National Quantum mission of Department of Science and Technology, Government of India. Current investors and additional new investors also participated * QpiAI has developed a full-stack Quantum Computer with proprietary hardware and software, and has delivered real world Quantum applications in material science and drugs discovery to several global enterprises * QpiAI team is led by Dr. Nagendra (ex Nvidia, Qualcomm) and consists of over two dozen PhDs from top-tier Quantum research universities in the US and Europe; company has offices in India, Finland and the US The funds will be used to accelerate delivery of its utility scale Quantum computer and expand globally Mohan Kumar, Managing Partner at Avataar Ventures further added " 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. They are on path to lead the Quantum-wave for the emerging markets with its advanced full-stack technology. We have been inspired by the vision, achievements and capabilities of the QpiAI team led by Dr. Nagendra and are excited to partner with them in their growth journey." Dr Ajai Chowdhry, Chairman of Indian National Quantum Mission further added " NQM is formed with a mission to enable Quantum ecosystem in India. We are 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. We plan to continue to support home grown product companies like QpiAI to help them grow into large enterprises and position India as a global leader in Quantum technologies. We congratulate Dr Nagendra and his team on this financing round and look forward to them achieving new commercial and technological milestones" About QpiAI QpiAI ( is a Bangalore based deep-tech company pioneering the convergence of Artificial Intelligence and Quantum Computing to solve some of the world's most complex industrial and scientific challenges. QpiAI's vertically integrated stack enables seamless innovation across hardware, software, and applications. The portfolio includes full-stack Quantum Computers (25 Qubit Indus and 8 Qubit QVidya); QpiAI-Explorer, an education platform; QpiAI-Quantum, offering SDKs, compilers, and simulators for quantum development; software products and platforms such as QpiAI-Opt, QpiAI-Pharma, QpiAI-Logistics, QpiAI-Matter, QpiAI- Pro and QpiAI-Agenthive across industries like manufacturing, industrial, transportation, finance, pharma and materials. (ADVERTORIAL DISCLAIMER: The above press release has been provided by VMPL. ANI will not be responsible in any way for the content of the same)
Deccan Herald
5 days ago
- Business
- Deccan Herald
QpiAI raises USD 32 million (INR 279 crore) in Series-A round led by Avataar Ventures and National Quantum Mission
· QpiAI raises $32 million (INR 279 cr) in Series A round led by Avataar Ventures and National Quantum mission of Department of Science and Technology, Government of India. Current investors and additional new investors also participated· QpiAI has developed a full-stack Quantum Computer with proprietary hardware and software, and has delivered real world Quantum applications in material science and drugs discovery to several global enterprises· QpiAI team is led by Dr. Nagendra (ex Nvidia, Qualcomm) and consists of over two dozen PhDs from top-tier Quantum research universities in the US and Europe; company has offices in India, Finland and the US The funds will be used to accelerate delivery of its utility scale Quantum computer and expand globallyDr Nagendra Nagaraja CEO and Founder of QpiAI quoted 'We thank our investors who enabled us to take QpiAI to next level. We were able to achieve great traction in commercialization 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'.Mohan Kumar, Managing Partner at Avataar Ventures further added ' 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. They are on path to lead the Quantum-wave for the emerging markets with its advanced full-stack technology. We have been inspired by the vision, achievements and capabilities of the QpiAI team led by Dr. Nagendra and are excited to partner with them in their growth journey.' .Dr Ajai Chowdhry, Chairman of Indian National Quantum Mission further added ' NQM is formed with a mission to enable Quantum ecosystem in India. We are 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. We plan to continue to support home grown product companies like QpiAI to help them grow into large enterprises and position India as a global leader in Quantum technologies. We congratulate Dr Nagendra and his team on this financing round and look forward to them achieving new commercial and technological milestones'About QpiAIQpiAI ( is a Bangalore based deep-tech company pioneering the convergence of Artificial Intelligence and Quantum Computing to solve some of the world's most complex industrial and scientific challenges. QpiAI's vertically integrated stack enables seamless innovation across hardware, software, and applications. The portfolio includes full-stack Quantum Computers (25 Qubit Indus and 8 Qubit QVidya); QpiAI-Explorer, an education platform; QpiAI-Quantum, offering SDKs, compilers, and simulators for quantum development; software products and platforms such as QpiAI-Opt, QpiAI-Pharma, QpiAI-Logistics, QpiAI-Matter, QpiAI- Pro and QpiAI-Agenthive across industries like manufacturing, industrial, transportation, finance, pharma and materials.
NDTV
5 days ago
- Business
- NDTV
QpiAI Raises $32 million (Rs 279 Crore) In Series-A Round Led By Avataar Ventures And National Quantum Mission
QpiAI raises $32 million (INR 279 cr) in Series A round led by Avataar Ventures and National Quantum mission of Department of Science and Technology, Government of India. Current investors and additional new investors also participated QpiAI has developed a full-stack Quantum Computer with proprietary hardware and software, and has delivered real world Quantum applications in material science and drugs discovery to several global enterprises QpiAI team is led by Dr. Nagendra (ex Nvidia, Qualcomm) and consists of over two dozen PhDs from top-tier Quantum research universities in the US and Europe; company has offices in India, Finland and the US The funds will be used to accelerate delivery of its utility scale Quantum computer and expand globally Dr Nagendra Nagaraja CEO and Founder of QpiAI quoted "We thank our investors who enabled us to take QpiAI to next level. We were able to achieve great traction in commercialization 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." Mohan Kumar, Managing Partner at Avataar Ventures further added "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. They are on path to lead the Quantum-wave for the emerging markets with its advanced full-stack technology. We have been inspired by the vision, achievements and capabilities of the QpiAI team led by Dr. Nagendra and are excited to partner with them in their growth journey." Dr Ajai Chowdhry, Chairman of Indian National Quantum Mission further added " NQM is formed with a mission to enable Quantum ecosystem in India. We are 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. We plan to continue to support home grown product companies like QpiAI to help them grow into large enterprises and position India as a global leader in Quantum technologies. We congratulate Dr Nagendra and his team on this financing round and look forward to them achieving new commercial and technological milestones" About QpiAI QpiAI is a Bangalore based deep-tech company pioneering the convergence of Artificial Intelligence and Quantum Computing to solve some of the world's most complex industrial and scientific challenges. QpiAI's vertically integrated stack enables seamless innovation across hardware, software, and applications. The portfolio includes full-stack Quantum Computers (25 Qubit Indus and 8 Qubit QVidya); QpiAI-Explorer, an education platform; QpiAI-Quantum, offering SDKs, compilers, and simulators for quantum development; software products and platforms such as QpiAI-Opt, QpiAI-Pharma, QpiAI-Logistics, QpiAI-Matter, QpiAI- Pro and QpiAI-Agenthive across industries like manufacturing, industrial, transportation, finance, pharma and materials. Disclaimer: The above sponsored content is non-editorial and has been sourced from a third party. NDTV does not guarantee, vouch for or necessarily endorse any of the above content, nor is responsible for it in any manner whatsoever.
Yahoo
6 days ago
- Business
- Yahoo
India eyes global quantum computer push — and QpiAI is its chosen vehicle
QpiAI, an Indian startup that claims to integrate AI and quantum computing for enterprise use cases, has raised $32 million in a new funding round co-led by the Indian government as the company aims to expand its presence and develop utility-scale quantum computers for markets around the world. The Indian government's $750 million National Quantum Mission has co-led QpiAI's all-equity Series A round, alongside Avataar Ventures, at a post-money valuation of $162 million. The funding reflects India's broader push to establish itself as a quantum computing power. Launched in 2023, the National Quantum Mission is an Indian government initiative that views quantum computing as both an economic opportunity and a national security imperative. The program aims to help develop intermediate-scale quantum computers with 50-1,000 physical qubits within eight years across platforms including superconducting and photonics. It also targets the development of satellite-based quantum communications, inter-city quantum distribution, multi-node quantum networks, magnetometers, and the design and synthesis of quantum materials, including superconductors, semiconductor structures, and topological materials for quantum device fabrication. QpiAI is one of eight startups selected by the National Quantum Mission, each receiving an initial grant of up to $3.5 million. Among these companies, the Bengaluru-headquartered startup, which has subsidiaries in the U.S. and Finland, says it has built India's first full-stack quantum computer, called QpiAI-Indus, which it launched in April with 25 superconducting qubits. Founded in 2019, QpiAI says it integrates quantum computing and AI to provide optimization capabilities in areas such as manufacturing, industrial, transportation, finance, pharma, and materials. The startup says it has developed specialized software, along with its proprietary hardware, to support real-world quantum applications in fields such as materials science and drug discovery. 'Quantum can really make sure AI is robust,' said QpiAI founder and CEO Nagendra Nagaraja in an interview. The startup views simulation, drug synthesis, and material discovery as some of the key use cases where the combination of AI and quantum could provide a competitive edge. '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 told TechCrunch. QpiAI plans to launch its 64-qubit quantum computer in November, with availability to customers expected by the second or third quarter of next year, Nagaraja said. The company is also working to start manufacturing its quantum hardware locally in 2026. Currently, it assembles 80% of its machines in-house. QpiAI employs a 100-person team, comprising 25 PhDs from international institutions or from Indian institutes. About 50 of its employees are based in India. The company says it has around 20 customers in India and the U.S., including the Indian government, which uses its infrastructure to test algorithms. According to the company, QpiAI has been profitable at EBITDA level for the past three years, with approximately 60% gross margins and 20% to 30% net margins, Nagaraja told TechCrunch. With the fresh funding, QpiAI plans to enter new markets including Singapore and the Middle East. It also aims to allocate funds for its local manufacturing plans and scale its operations to develop a 100-logical qubit system by 2030. In June of last year, QpiAI raised $6.5 million in a pre-Series A round led by YourNest and SVCL at a post-money valuation of around $30 million. Nagaraja told TechCrunch that QpiAI has a three- to four-year runway, even without accounting for its profitability. He also said the startup is considering an initial public offering in either 2026 or 2027. The National Quantum Mission's support extends beyond QpiAI. The Indian government's program is also backing startups such as QNu Labs (working on quantum-safe networks), Dimira Technologies (cryogenic cables), PrenishQ (diode-laser systems), and QuPrayog (optical atomic clocks). It has also supported Quanastra (cryogenic systems and superconducting detectors), Pristine Diamonds (diamond-based sensing materials), and Quan2D Technologies (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,' said Ajai Chowdhry, chairman of India's National Quantum Mission, in a prepared statement.
