Startup Story Team
Bengaluru-based QpiAI has raised a substantial $32 million in its Series A funding, co-led by Avataar Ventures and India’s National Quantum Mission (NQM). The infusion of capital marks a significant leap forward in the company’s quest to deliver utility-scale quantum computers and establishes India’s rising footprint in the global quantum tech arena.
Full-Stack Quantum and AI-integrated Solutions:
Founded in 2019 by Dr Nagendra Nagaraja, formerly of Nvidia and Qualcomm QpiAI has pioneered India’s first full-stack quantum system, the 25‑qubit QpiAI‑Indus. This system combines proprietary superconducting hardware with AI-driven software to deliver solutions across materials science, drug discovery, agriculture, manufacturing, and more.
Scaling Up: From 25 Qubits to 1,000 by 2030
QpiAI is charting a bold growth plan: rolling out a 64‑qubit quantum computer by late next year and aiming for a scalable 1,000‑qubit infrastructure by 2030. The company is also developing error‑corrected logical qubits, essential for commercial-grade quantum computing by enhancing qubit coherence and lowering error rates.
Global Reach and Commercial Momentum:
With offices in India, the U.S., and Finland, QpiAI serves over 20 clients, including major players in automotive, life sciences, and government sectors. The startup has been EBITDA-profitable for three consecutive years, with strong gross margins near 60%, spotlighting its commercial viability.
Strategic Support from Avataar and the National Quantum Mission:
Avataar Ventures lauded QpiAI’s strong technical expertise and market-ready quantum solutions, calling it “on path to lead the quantum wave for the emerging markets”. Meanwhile, the National Quantum Mission is backing QpiAI as a cornerstone of India’s quantum ecosystem, helping home‑grown firms graduate into global technology leaders.
Ambitious Workforce and Patent Leadership:
With an existing team of about 100, over 25 of them PhDs-QpiAI plans to expand its headcount to around 250 across multiple R&D hubs. The startup has filed 11 patents to date, safeguarding its innovations in quantum hardware and software.
Looking Ahead: Local Manufacturing and IPO Prospects
The fresh capital will fuel both global expansion and local production, with hardware manufacturing slated to begin in India by 2026. Additionally, QpiAI is exploring an IPO window in 2026–2027 and expects its funding to support operations for approximately 3 to 3.5 years.
