QpiaiAn Indian start -up that claims to incorporate AI and Quantum Computing in cases of business use has raised $ 32 million into a new round of funding coexisting by the Indian government, as the company aims to expand its presence and develop computers for shopping around the world.
The national quantum mission of the Indian government has been on a Qpiai round mission, along with Avataar Ventures, with a $ 162 million assessment.
Financing reflects India’s broader impulse to establish itself as quantum computing power. Started in 2023, the National Quantum Shipment It is an Indian government initiative that considers Quantum Informatics as a financial opportunity and an urgent need for national security. The program aims to help develop intermediate-scale quantum computers with 50-1000 natural Qubits within eight years on platforms, including superconduction and photon. It also aims to develop quantum communications based on satellites, quantum distribution between the city, quantum networks of multi -cans, magnet meters and the design and synthesis of quantum materials, including superconductors, semiconductor structures and topological materials.
Qpiai is one of the eight newly established businesses It was selected by the national quantum mission, each received an initial grant of up to $ 3.5 million. Among these companies, Bengaluru -based startup, which has subsidiaries in the US and Finland, says it has built the first quantum computer of India’s full stack, Qpiai-Induswhich began in April with 25 superconducting Qubits.
Founded in 2019, QPIAI reports that it incorporates quantum information technology and AI to provide optimization capabilities in areas such as construction, industrial, transport, funding, pharmacies and materials. The start states that it has developed specialized software, along with its privately owned material, to support real world quantum applications in areas such as material science and the discovery of drugs.
“Quantum can really make sure AI is strong,” said Qpiai Nagendra Nagaraja’s founder and chief executive in an interview.
The simulation, the composition of the drugs and the discovery of material as some of the basic cases of use where the combination of AI and Quantum could provide a competitive advantage.
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“Because the design space of a quantum chip is very, very big and really get the optimal Qubits, which is important when we incorporate thousands of Qubits to get Qubits to correct errors, AI plays a bigger role there,” Nagaraja told Techcrunch.
QPIAI plans to launch its quantum computer 64 pieces in November, with availability to customers expected from the second or third quarter of next year, Nagaraja said.
The company is also working to start manufacturing its quantum material locally in 2026. Currently, it collects 80% of its engines at home.
QPIAI employs a group of 100 people, which includes 25 doctorates from international institutions or Indian institutes. About 50 of its employees are based in India. The company says it has about 20 customers in India and the US, including the Indian government, which uses its infrastructure to test algorithms.
According to the company, QPIAI has been profitable at EBITDA level in the last three years, with about 60% gross margins and 20% to 30% net margin, Nagaraja told TechCrunch.
With the new funding, QPIAI plans to enter new markets, such as Singapore and the Middle East. Its aim is to provide funds for its local production plans and to escalate its activities to develop a 100-logical Qubit System by 2030.
In June last year, QPIAI raised $ 6.5 million in a pre-serial series, led by Yournest and SVCL in valuation after $ 30 million.
Nagaraja told TechCrunch that Qpiai has a three to four -year corridor, even without calculating its profitability. He also said that the start is considering an initial public offer either in 2026 or 2027.
The support of the national quantum mission extends beyond Qpiai. The Indian Government program also supports newly established businesses such as Labs QNU (working on quantum security networks), Dimira technologies (cryogenic cables), prenishq (systems-laser systems) and quprayog. It has also supported Quanastra (cryogenic systems and superconductors), virgin diamonds (diamond -based detection materials) and Quan2D technologies (quantum monastery detectors).
“We are planning to continue supporting home products cultivated at home such as Qpiai to help them expand to large businesses and place India as world leaders in quantum technologies,” said Ajai Chowdhry, president of the National Quantum Mission.
