QPIAI
21.6.2024 14:10:26 CEST | Business Wire | Press release
QpiAI, a leader in quantum computing and generative AI, announced its maiden external funding of $6.5 million to build Quantum computing and Generative AI products and platforms.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240621533638/en/
Dr Nagendra Nagaraja, Founder, CEO and Chairman of QpiAI (Photo: Business Wire)
Dr Nagendra Nagaraja CEO and Founder of QpiAI quoted, “The pre-series A round of QpiAI will be remembered as a landmark funding round in Indian Deeptech. This round should allow us to lay a foundation of intelligence modelling and intelligence compute via Quantum computers and Generative AI. This funding will enable us to achieve breakthrough innovation in vertical integration of Generative AI and Quantum computing in enterprise and industrial applications. We will also be demonstrating 25 Qubit Quantum computers in our Bangalore HQ by Q4 CY2024/ Q1 CY 2025. With integration of HPC built out of our lab infra and integration all our 7 Quantum and Generative AI platforms we will have prototype of Quantum-HPC QpiAI datacenter, this can be scaled further to offer QCaaS (Quantum Compute as a Service). There is also good traction with our current customers to provide Quantum-HPC solutions with our software and compute infra. A very advanced Compute infra with Quantum capability that we will be deploying with this funding will allow us to innovate in Generative AI and Quantum software. QpiAI Quantum and AI stack, including hardware and software, will have tremendous impact on pharma, non-energy transition materials, chemicals, manufacturing, logistics and finance.”
Dr Nagendra further added, “There is also tremendous traction in the B2G segment with QpiAI thought leadership in Quantum and AI that has helped shape technology and infrastructure roadmaps. QpiAI is a Global company with its HQ in Bangalore, India and subsidiaries in US and Finland. As we work with Global enterprises and Governments including the US, Europe, Japan, the Middle East and Southeast Asia, we will be expanding our presence in these regions to create value to our customers and partners.”
Dr Manjunath R.V., Vice President for Quantum computers QpiAI, further added, “Building Scalable Quantum computers that can solve real world problems and bolster our industry verticals is a very key technology development. At QpiAI, we are very excited to have our own Quantum computers to further build Quantum and AI data centers. Our team is really happy to have multiple QPUs in our dilution refrigerator to make sure we achieve high quality quantum compute infrastructure. We can’t wait to see the next steps in our roadmap to advance Quantum computers scaling 25 qubits to 1000 qubits.”
Sachin Kumar, Lakshya Priyadarshi and Aswanth Krishnan, who leads software products and solutions on Generative AI and Quantum software, suggested, “In the last 4 years, we were able to commercialize our software platforms and achieve traction across large bluechip enterprise customers. With this funding and with all our 7 software products ready to scale, we envision scaling our software platforms globally. We anticipate a great time ahead for us. There is lot of customer interest to see QpiAI Quantum and AI software platform working on QpiAI Quantum-AI HPC datacenters to implement their next gen applications in pharma, materials, fintech, automotive and manufacturing.”
Sunil Goyal MD, Yournest who led the funding round, further added, "By investing in QpiAI, we're helping to propel India to the leading edge of quantum computing. This technology has the potential to revolutionize fields like materials science, drug discovery, automotive, and manufacturing. QpiAI's innovative approach makes them a key player in unlocking this potential, and we're thrilled to join Dr. Nagendra and the QpiAI team on this exciting journey."
Debraj Banerjee, President at SIDBI Venture capital and Board of Director of QpiAI who led the funding round from SIDBI ventures, further added, “SVCL is very excited to be part of this very important deeptech journey of national importance. Quantum computers will change the world when we commercialize it. The technology is of immense importance for national security and advance computation. Having a home-grown Quantum computer will be very important for our national institutes to further our progress in computation technologies. We are eagerly looking forward to a working 25 qubit machine from QpiAI by Q4 of CY24 /Q1 CY25.”
Ramesh Radhakrishnan, a very successful serial entrepreneur, a veteran VC and Board of Director at QpiAI, further added, “Quantum computers and AI are the future for all applied technologies in many different market segments including pharma, transport, cybersecurity, and financial among others. Integrating Application software with Quantum System software and hardware to make AI and Quantum computing work together is a fundamental innovation whose significance is going to be enormous. With centers in the US and Finland, QpiAI is well positioned to scale Quantum and AI technologies and address markets globally. I am very excited to be a part of this wonderful journey.”
About QpiAI
QpiAI (https://www.qpiai.tech) is a world leader in AI and Quantum computing. QpiAI is integrating Quantum computing and AI vertically to offer solutions to areas like manufacturing, industrial, transportation, finance, pharma and materials. It has various software platforms and products including QpiAI-pro, QpiAI-explorer, QpiAI-logistics, QpiAIopt, QpiAIML, QpiAI-pharma and QpiAI-Matter. With its innovation in commercial grade Quantum computing technology, QpiAI is providing impactful advances to generative AI and various industry verticals.
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240621533638/en/
About Business Wire
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
rhode Continues Its Global Retail Expansion Into Sephora Europe30.4.2026 18:00:00 CEST | Press release
This expansion into Sephora Europe increases global access to rhode through physical retail, marking a pivotal next stage for the brand rhode, the beauty brand founded by Hailey Rhode Bieber, will be available at Sephora online and in most stores across Europe beginning this September, following its 2025 rollout with Sephora in the U.S., Canada, and the U.K. This expansion into Sephora Europe increases global access to rhode through physical retail, marking a pivotal next stage for the brand. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260430569580/en/ rhode continues its global retail expansion into Sephora Europe. rhode’s collection of high-performance, skin-focused products saw strong performance in Sephora U.S. and Canada as the biggest brand launch in the retailer’s history in North America. When launched in November 2025 in the U.K., rhode was also the largest brand launch in Sephora U.K.’s history. “I’m so excited
ABS Acquires RMC Global to Strengthen Cyber, Risk and Resilience Capabilities30.4.2026 17:46:00 CEST | Press release
Acquisition to Deliver Stronger, More Integrated Solutions for Clients ABS, through its affiliate ABSG Consulting Inc. (ABS Consulting), has today announced the acquisition of RMC Global (RMC), a leading provider of industrial cybersecurity, risk management and resiliency solutions. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260430164690/en/ (L to R): Vince Kuchar, President, RMC Global, and David Wechsler, President and CEO, ABS Group The acquisition strengthens ABS Consulting’s capabilities and market position, bringing together two organizations with complementary expertise, shared values and a common mission. Combining RMC’s capabilities with ABS Consulting’s scale, technical depth and global resources, unlocks more integrated solutions for clients operating in increasingly complex risk environments. ABS Chairman and CEO John McDonald said: “Clients are facing increasing operational risk, cyber threats, and regulator
Brightfin Unveils AI-Native Platform for IT Financial Management30.4.2026 17:00:00 CEST | Press release
Brightfin clients drive their businesses forward with the first AI Native Cost Optimization Platform Brightfin, the only ITFM and Technology Expense Management solution built natively on ServiceNow, today announced an AI-Native architecture that fundamentally improves how organizations manage IT spend. Rather than bolting AI onto legacy systems, Brightfin has engineered intelligence from the ground up - starting with the data, building contextual awareness on top of it, and delivering AI agents that speak the language of IT finance. Brightfin’s unified budget-to-billing data model creates a stable, governed foundation that connects contracts, invoices, inventory, and budgets into a single source of truth - something no external ITFM tool or native platform module can replicate. This is a structured financial backbone purpose-built for enterprise IT spend, and it’s what makes everything above it possible. A context-aware, AI-Native, intelligence layer understands relationships across th
SINOVAC Files Annual Report on Form 20-F for the Fiscal Year 202430.4.2026 15:22:00 CEST | Press release
Sinovac Biotech Ltd. (Nasdaq: SVA) (“SINOVAC” or the “Company”), a leading provider of biopharmaceutical products in China, today announced that it filed its annual report on Form 20-F for the fiscal year ended December 31, 2024 (the “Annual Report”) with the U.S. Securities and Exchange Commission (“SEC”). An electronic copy of the Annual Report can be accessed on SINOVAC’s investor relations website at https://www.sinovac.com/en-us/Investors and on the SEC’s website at www.sec.gov. About SINOVAC Sinovac Biotech Ltd. (SINOVAC) is a China-based global biopharmaceutical company, with a mission of “supply vaccines to eliminate human diseases”, the company specializes in the research, development, manufacturing and commercialization of vaccines and related biological products that protect against human infectious diseases. The company’s diversified portfolio includes vaccines for influenza, viral hepatitis, varicella, Hand-Foot-Mouth disease (HFMD), poliomyelitis, pneumococcal disease, et
Experian Announces Agent Trust to Power Trusted AI Driven Commerce30.4.2026 15:00:00 CEST | Press release
First-of-its-kind human-to-agent binding service for secure AI-driven commerce, developed with a growing ecosystem of agentic commerce collaborators, including Visa, Cloudflare and Skyfire Experian today announced Experian Agent Trust™, a first-of-its-kind framework that establishes a secure, verifiable link between consumers and AI agents, bringing identity, and accountability to AI-driven transactions. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260430719198/en/ Experian Announces Agent Trust to Power Trusted AI Driven Commerce. As AI agents begin to search and transact autonomously, they introduce a fundamental challenge for businesses: how to trust an action when it is no longer driven by a human. Without a verified connection between humans and AI agents, autonomous commerce introduces new risks in fraud, misrepresentation, and unauthorized transactions. Experian Agent Trust addresses this challenge through a new “Kn
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom