TLDR:
India-based QpiAI has secured $6.5 million in pre-Series A funding led by Yournest and SIDBI Venture Capital Limited. The company plans to build a full-stack 25-qubit quantum computer scalable to 1,000 physical superconducting qubits and expand its software platforms. The funding will also support the development of 25-qubit quantum computers by Q4 2024 or Q1 2025 at QpiAI’s Bangalore headquarters. The company aims to offer Quantum Compute as a Service (QCaaS) and provide comprehensive Quantum-HPC solutions to its customers.
India-based QpiAI Secures $6.5 Million in Pre-Series A Funding
QpiAI, a leader in quantum computing and generative AI based in India, has closed its first external investment round, securing $6.5 million in pre-series A funding, with Yournest and SIDBI Venture Capital Limited (SVCL) leading the round. The company plans to develop a full-stack 25-qubit quantum computer scalable to 1,000 physical superconducting qubits and boost revenues from its software platforms.
The funding will also support the development of 25-qubit quantum computers at QpiAI’s Bangalore headquarters by Q4 2024 or Q1 2025. The integration of high-performance computing (HPC) with quantum capabilities will help pave the way for innovation in QpiAI’s generative AI and quantum software products. The company plans to offer Quantum Compute as a Service (QCaaS) and provide comprehensive Quantum-HPC solutions to its customers.
With a range of investors participating in the funding round, including angel investors and established tech professionals, QpiAI aims to lay the foundation for intelligence modeling and intelligence compute via quantum computers and generative AI. The company, already serving Fortune 500 clients across various industries, plans to scale its software platforms globally and expand its presence in global markets, including the US, Europe, Japan, the Middle East, and Southeast Asia.
