TLDR:
- QpiAI secured $6.5 million in pre-Series A funding led by Yournest and SIDBI Venture Capital.
- The funding will enable QpiAI to develop Quantum computing and Generative AI products and platforms.
In a landmark funding round for Indian Deeptech, QpiAI has secured $6.5 million in pre-Series A funding led by Yournest and SIDBI Venture Capital. The funding will allow QpiAI to focus on building Quantum computing and Generative AI products and platforms. Dr. Nagendra Nagaraja, CEO and Founder of QpiAI, highlights the significance of this funding round in driving innovation in intelligence modelling and intelligence compute via Quantum computers and Generative AI. The company plans to showcase 25 Qubit Quantum computers at their Bangalore headquarters by Q4 CY2024/Q1 CY 2025. With a strong focus on vertical integration, QpiAI aims to provide Quantum-HPC solutions to industries such as pharma, materials, chemicals, manufacturing, logistics, and finance.
QpiAI’s Vice President for Quantum computers, Dr. Manjunath R.V., emphasizes the importance of building scalable Quantum computers to solve real-world problems and enhance industry verticals. The team at QpiAI is excited about advancing Quantum computers scaling from 25 qubits to 1000 qubits. The software products and solutions team at QpiAI, led by Sachin Kumar, Lakshya Priyadarshi, and Aswanth Krishnan, looks forward to scaling their software platforms globally with the funding, catering to sectors such as pharma, materials, fintech, automotive, and manufacturing.
Investors Sunil Goyal from Yournest and Debraj Banerjee from SIDBI Venture Capital express their excitement in backing QpiAI’s innovative approach to Quantum computing, recognizing its potential to revolutionize various industries. Ramesh Radhakrishnan, a Board of Director at QpiAI, underscores the essential role of integrating Quantum and AI technologies for future advancements in applied technologies across multiple market segments. QpiAI’s presence in the US and Finland positions the company well to scale Quantum and AI technologies globally.
QpiAI, a world leader in AI and Quantum computing, aims to integrate Quantum computing and AI to offer solutions to sectors such as manufacturing, industrial, transportation, finance, pharma, and materials. With a range of software platforms and products, including QpiAI-pro, QpiAI-explorer, QpiAI-logistics, QpiAIopt, QpiAIML, QpiAI-pharma, and QpiAI-Matter, QpiAI is poised to make significant advancements in generative AI and industry verticals.
