India’s QpiAI Secures $32M to Accelerate Global Quantum Computing Ambitions
India’s Quantum Leap: QpiAI Secures Major Funding for Global Expansion
India is taking bold steps to establish itself as a leader in quantum computing, with Bengaluru-based startup QpiAI at the forefront. The company recently raised $32 million in a Series A funding round co-led by the Indian government’s National Quantum Mission and Avataar Ventures, bringing its post-money valuation to $162 million. This injection of capital highlights India’s commitment to advancing quantum technologies and supporting homegrown innovation.
National Quantum Mission: India’s Quantum Ambitions
Launched in 2023, the National Quantum Mission is a $750 million initiative designed to propel India into the global quantum arena. The mission aims to develop intermediate-scale quantum computers with 50–1,000 physical qubits over the next eight years, spanning superconducting and photonics platforms. The program also targets advancements in satellite-based quantum communications, inter-city quantum distribution, and the development of quantum materials and sensors.
QpiAI: From India to the World
QpiAI is one of eight pioneering startups selected by the National Quantum Mission, each receiving up to $3.5 million in initial grants. With subsidiaries in the U.S. and Finland, QpiAI has already made headlines by launching India’s first full-stack quantum computer, the QpiAI-Indus, featuring 25 superconducting qubits. The company’s next milestone is a 64-qubit quantum computer expected to launch in November, with commercial availability projected for the following year.
QpiAI’s full-stack quantum system targets industries including life sciences, automotive, and finance.
AI Meets Quantum: Transforming Enterprise Solutions
Founded in 2019, QpiAI specializes in combining quantum computing with artificial intelligence to solve complex optimization problems across sectors like manufacturing, transportation, finance, pharmaceuticals, and materials science. The startup has developed both proprietary hardware and specialized software to unlock real-world quantum applications, particularly in simulation, drug synthesis, and materials discovery.
According to founder and CEO Nagendra Nagaraja, integrating AI helps optimize quantum chip design, ensuring higher-quality qubits for error correction and scalability. This synergy is crucial as the company works toward building a 100-logical qubit system by 2030.
Growth, Profitability, and Global Strategy
- QpiAI’s 100-person team includes 25 PhDs and roughly 20 customers across India and the U.S., including government clients.
- The company has maintained profitability at the EBITDA level for the past three years, with 60% gross margins and 20–30% net margins.
- 80% of its quantum hardware is assembled in-house, with plans to start local manufacturing in 2026.
- Expansion into Singapore, the Middle East, and further scaling of operations are on the horizon with the new funding.
India’s Quantum Ecosystem: More Than One Player
The National Quantum Mission supports a diverse set of startups beyond QpiAI, including:
- QNuLabs – quantum-safe networks
- Dimira Technologies – cryogenic cables
- Prenishq – diode-laser systems
- QuPrayog – optical atomic clocks
- Quanastra – cryogenic systems and superconducting detectors
- Pristine Diamonds – diamond-based sensing materials
- Quan2D Technologies – single-photon detectors
These efforts reflect a coordinated national strategy to position India as a global quantum technology leader, supporting innovation across the value chain.
What’s Next for QpiAI?
With a robust runway and potential plans for an IPO by 2026 or 2027, QpiAI is well-placed to further its global ambitions. The company’s roadmap includes launching higher qubit devices, expanding international operations, and investing in local manufacturing to strengthen India’s quantum ecosystem.
