PE-VC Fund Investments
Quantum tech startup QpiAI raises $32-M led by Avataar Ventures
Bengaluru-based deeptech startup QpiAI has raised USD 32 million (around INR 279 crore) in its Series A funding round co-led by Avataar Venture Partners and National Quantum Mission with participation from existing and new investors.The startup will deploy the freshly raised funds to accelerate delivery of its utility scale quantum computer and expand its global footprint.Founded in 2019 by Nagaraja, QpiAI integrates artificial intelligence and quantum computing in enterprise solutions for sectors including logistics, finance, healthcare, life sciences, manufacturing, and energy. Apart from Bangalore, the company also has offices in Finland and the US.
For FY24, QpiAI had reported about INR 2 Cr in Operating Income and about INR 14 Cr in Net Loss.
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