QpiAI Raises $32 mn to Scale Quantum to Fuel Global Expansion

Indian quantum computing startup QpiAI has raised $32 million in a Series A round led by Avataar Ventures and India’s National Quantum Mission (NQM).

The Bengaluru-based firm is developing full-stack quantum systems and has already delivered applications in drug discovery and materials science for global enterprises.

The funding will speed up the development of QpiAI’s utility-scale quantum computer and support its global growth plans. The company currently operates out of India, Finland, and the United States.

“Markets are ripe for utility-scale quantum computers with logical qubits and we are leading efforts towards building full-stack utility-scale quantum computers,” Dr. Nagendra Nagaraja, CEO and founder of QpiAI, said.

QpiAI’s team includes over 20 PhDs from top global quantum institutions. The new funds will help accelerate the rollout of its utility-scale quantum computer and drive global expansion, with operations already in Finland and the U.S.

Mohan Kumar, Managing Partner at Avataar Ventures, said the company is “on path to lead the quantum wave for emerging markets,” citing its commercial deployments and full-stack approach as differentiators.

NQM Chairman Dr. Ajai Chowdhry called QpiAI a “key success story,” reaffirming its role in India’s growing quantum ecosystem.

"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," he said.

Earlier this year, the startup unveiled QVidya, India’s first 8-qubit superconducting quantum computer designed exclusively for academic institutions and research labs.

QVidya is part of QpiAI’s full-stack quantum ecosystem, integrating a modular quantum computer system, an 8-qubit Quantum Processor Unit (QPU), advanced control and readout electronics, a GUI-based algorithm development platform, and quantum learning and simulation tools.