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
Bial Announces Completion of Phase 2b ACTIVATE Study with BIA 28-6156 in GBA1-Associated Parkinson’s26.5.2026 08:00:00 CEST | Press release
Study Topline results will be released around the end of Q2 2026 BIA 28-6156 is being developed as a potential first-in-class disease-modifying therapy in GBA-PD Bial was present at the GBA1 conference and is currently attending the World Parkinson Congress Bial, an innovation-driven biopharmaceutical company focused on neurosciences and rare diseases, today announced the completion of the treatment period in its Phase 2b ACTIVATE study of BIA 28-6156 (pariceract) in patients with Parkinson’s disease (PD) who have a pathogenic mutation in the glucocerebrosidase 1 (GBA1) gene (GBA-PD). Upon completion of the 78-week double-blind treatment period and all scheduled safety follow-ups, data cleaning and analysis are currently ongoing. Topline results will be released around the end of Q2. A status report on the ACTIVATE study was presented in an oral presentation at the 3rd International GBA1 Meeting 2026. The team is currently attending the 7th World Parkinson Congress, taking place in Pho
Oticon Medical Introduces Ponto™ Instant, Expanding Non-Surgical Choice with Instant HearBand and Instant SoundConnector26.5.2026 07:00:00 CEST | Press release
Oticon Medical today announces its new non-surgical portfolio, Ponto Instant, designed to broaden access to bone conduction hearing and offer more choice for users and hearing care professionals. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260525771593/en/ Left: Instant HearBand, a discreet behind-the-head wearable solution that offers an alternative to Softband 5. Right: Instant SoundConnector, a small accessory fitted to a cap or other headwear, providing another non-surgical way to wear a Ponto sound processor. The Ponto Instant portfolio includes Softband 5, Oticon Medical’s established and trusted non-surgical solution, and now expands with the launch of Instant HearBand and Instant SoundConnector, further strengthening its wearable offering for children and adults who prefer a non-surgical solution. Instant HearBand: a discreet new wearable alternative As part of the new portfolio, Instant HearBand is introduced as
Barilla Opens Global Call for Startups Through Good Food Makers 202625.5.2026 11:47:00 CEST | Press release
The program has involved over 1,100 startups across 50+ countries, delivering 26 pilot projects. Barilla Group has opened applications for the 2026 edition of Good Food Makers, its global open innovation program designed to co-develop and test new innovative solutions with startups and innovators inside real industrial environments. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260521973445/en/ Since its launch in 2019, the program has involved more than 1,100 startups from over 50 countries, leading to 26 pilot projects, with over 20 projects currently active thanks to the solutions developed by the program’s alumni. This highlights the program’s role as a concrete platform for industrial scalable innovation. The 2026 edition comes at a pivotal moment for the company, following the launch of BITE (Barilla Innovation & Technology Experience), the new innovation center dedicated to developing the next generation of food prod
JEOL: Sales Launch of the Laser SEM System “LazEdge”25.5.2026 10:16:00 CEST | Press release
JEOL Ltd. (President & CEO: Izumi Oi) has developed the “LazEdge”, an SEM system equipped with a laser processing system, and begins sales on May 25, 2026. Cross-section preparation instruments such as the focused ion beam system (FIB system), are widely used in science and technology fields across research institutes, universities, and industries. In recent years, demand is increasing for a system that can process large-areas at a high speed, while achieving high-quality of the processed surface. “LazEdge” is an instrument integrating JEOL’s SEM with the laser technology proprietary of Hamamatsu Photonics K.K., and enables laser processing inside the specimen chamber of the electron microscope. This system enables high-quality cross-section specimens produced through high-speed, large-area processing to be transferred seamlessly to subsequent analyses, such as SEM observation, elemental analysis, and crystal orientation analysis, without exposure to the external environment. As a resu
TFG-001, A Novel 3D Neural Microtissue Cell Therapy, Demonstrates Superior Functionality and Reinnervation for Parkinson’s Disease25.5.2026 08:00:00 CEST | Press release
TreeFrog Therapeutics, a regenerative medicine biotech company developing next-generation cell therapies, today announced that it will present new preclinical data on TFG-001 at the 7th World Parkinson’s Conference. TFG-001, a 3D neural microtissue cell therapy, demonstrated rapid dopamine release and extensive graft-derived reinnervation across multiple advanced translational Parkinson’s disease models—supporting its potential as a best-in-class candidate. The critical need for reinnervation in Parkinson's disease In Parkinson's disease, an estimated 60–80% of dopaminergic neurons are already lost before motor symptoms even appear. The nigrostriatal pathway degenerates, destroying the essential wiring that connects dopamine-producing neurons to movement control. While chemical dopamine replacements (like levodopa) can manage symptoms, they cannot restore the spatial precision, feedback loops, or dynamic regulation of a healthy brain network. To achieve true functional restoration, it
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