QpiAI, an Indian quantum computing startup, raised $32 million in Series A funding led by Avataar Ventures and India's National Quantum Mission to enhance its development of utility-scale quantum systems for enterprise clients.

Target Information

QpiAI, an Indian startup specializing in quantum computing, has successfully secured $32 million in Series A funding primarily led by Avataar Ventures alongside India's National Quantum Mission. Headquartered in Bengaluru, the company has made significant strides in developing full-stack quantum hardware and software solutions, with a focus on delivering utility-scale quantum systems tailored for enterprise clients.

Under the leadership of Dr. Nagendra Nagaraja, a former executive at Nvidia and Qualcomm, QpiAI has assembled a team of over two dozen Ph.D. holders from esteemed quantum research institutions across the United States and Europe. The firm is already providing innovative applications in sectors such as materials science and drug discovery to various global enterprises, reinforcing its position in the competitive quantum technology marketplace.

Industry Overview

The quantum computing industry in India is rapidly evolving, fueled by substantial government investments and a growing ecosystem of startups. Recognizing the potential of quantum technologies, the Indian government has launched initiati