QpiAI just raised $32M in a Series A round co-led by the Indian government. The Bengaluru-based startup is building utility-scale quantum computers for enterprise use, aiming to boost AI and quantum computing integration.
The Indian government’s $750M National Quantum Mission backs the round, valuing QpiAI at $162M. This mission targets building quantum computers with 50–1,000 qubits and advancing quantum tech like satellite communication and materials design.
QpiAI launched India’s first full-stack quantum computer, QpiAI-Indus, with 25 superconducting qubits in April. The startup plans a 64-qubit system by November and aims for customer availability by mid-2026. 
Founded in 2019, QpiAI integrates quantum computing with AI for optimization in manufacturing, finance, pharma, and materials science. It also develops proprietary software and hardware for real-world use cases like drug discovery and material simulation.
Founder and CEO Nagendra Nagaraja told TechCrunch:
“Quantum can really make sure AI is robust.”
“Because the design space of a quantum chip is very, very big, and to actually get optimal qubits, which is important when we integrate thousands of qubits to get logical qubits for error correction, AI plays a bigger role there.”
The startup assembles 80% of its quantum machines in-house and plans local manufacturing by 2026. It has a 100-strong team with 25 PhDs, roughly half based in India, serving 20 customers including the Indian government.
QpiAI has been profitable at EBITDA level for three years, with 60% gross margins and 20–30% net margins.
With fresh funding, QpiAI will scale operations, enter markets in Singapore and the Middle East, and work toward a 100-logical qubit system by 2030. It also eyes an IPO in 2026 or 2027.
The National Quantum Mission supports eight startups, including QpiAI, to push India as a global quantum leader.
Ajai Chowdhry, chairman of the National Quantum Mission, said:
“We plan to continue to support home-grown product companies like QpiAI to help them expand into large enterprises and position India as global leaders in quantum technologies.”
Image Credits: QpiAI
Context: QpiAI raised $6.5M last year at a $30M valuation, so this $32M round is a big jump. Watch this space for India’s quantum push heating up fast.
