QpiAI has announced its first external funding round, securing $6.5 million in a pre-series A round led by Yournest and SIDBI Venture Capital. Other notable investors include We Founder Circle, Ramesh Radhakrishnan, Ramaswamy Prabhakar, Quick Heal Security founders Kailash and Sanjay Katkar, and other angel investors. This funding will support the development of QpiAI’s scalable 25 to 1000 qubit quantum computers and enhance their suite of seven quantum computing and generative AI software platforms: QpiAI-pro, QpiAI-explorer, QpiAI-opt, QpiAI-pharma, QpiAI-ML, QpiAI-logistics, and QpiAI-matter.
QpiAI, headquartered in Bangalore with subsidiaries in the US and Finland, serves Fortune 500 companies across various sectors including pharma, materials, chemicals, cosmetics, automotive, financials, and manufacturing. The company aims to deploy a 25 qubit quantum computer prototype by late 2024 or early 2025 and plans to offer Quantum Compute as a Service (QCaaS) through its Quantum-HPC data centers.
Debraj Banerjee from SIDBI ventures and Ramesh Radhakrishnan have joined the QpiAI board. The funding will bolster QpiAI’s leadership in quantum computing and generative AI, driving advancements in multiple industry verticals globally.
For additional information, you can access a press release provided that you can see here.
June 24, 2024