QPIAI
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
A2RL Drone Championship Sets the Pace for AI in Autonomous Flight26.1.2026 18:17:00 CET | Press release
TII Racing set the fastest autonomous lap of the Championship, establishing a new benchmark for high-speed, vision-based autonomy MAVLAB secured the multi-drone title, showcasing robust multi-agent autonomy in complex, shared environments Human FPV pilot MinChan Kim narrowly defeated AI competitor in a decisive Human vs AI finale, in a down-to-the-wire showdown The Abu Dhabi Autonomous Racing League (A2RL) Drone Championship delivered a decisive test of autonomous and human performance, as Technology Innovation Institute’s TII Racing set the fastest autonomous lap to win the AI Speed Challenge, while a human first-person-view (FPV) pilot, MinChan Kim – World FPV Champion, narrowly claimed victory in the Human vs AI finale. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260126735530/en/ A2RL Drone Championship Sets the Pace for AI in Autonomous Flight (Photo: AETOSWire) Organised by ASPIRE, the innovation acceleration arm of
Zayed Sustainability Prize Opens Global Call for Submissions for 2027 Cycle26.1.2026 16:25:00 CET | Press release
With an increased prize fund of US $7.2 million, the Zayed Sustainability Prize supports enterprises, nonprofit organisations and schools delivering transformative solutions.Entries are now open, with applicants invited to submit innovative, scalable sustainability solutions.Now in its 18th year, the Prize has positively impacted over 400 million people by expanding access to clean energy, water, food, healthcare and improving climate resilience. The Zayed Sustainability Prize, an affiliate of Erth Zayed Philanthropies and the UAE’s pioneering global award for sustainability and humanitarian innovation, has opened submissions for its 2027 cycle. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260126912976/en/ Winners of the 2026 Zayed Sustainability Prize (Photo: AETOSWire) The Prize carries forward the vision and legacy of the UAE’s founding father, Sheikh Zayed bin Sultan Al Nahyan, by supporting those advancing a more incl
2026 Japan Prize: Two U.S. Scientists and One Japanese Scientist Awarded26.1.2026 15:00:00 CET | Press release
Presentation Ceremony to Take Place in Tokyo in April The Japan Prize Foundation announced the winners of the 2026 Japan Prize at 1:00 p.m. on 21 January 2026. Prof. Cynthia Dwork (USA) has been awarded the Japan Prize in the field of Electronics, Information, and Communication. Prof. Shizuo Akira (Japan) and Prof. Zhijian "James" Chen (USA) have been awarded the Japan Prize in the field of Life Sciences. For this year’s Japan Prize, Prof. Dwork is being recognized for her Contribution to leading research for building an ethical digital society, including differential privacy and fairness. Prof. Akira and Prof. Chen are being recognized for their Discovery of the nucleic acid sensing mechanism by the innate immune system. For the 2026 Japan Prize, the Foundation asked approximately 16,000 prominent scientists and engineers from around the world to nominate researchers working in this year’s fields. We received 107 nominations for the field of Electronics, Information, and Communication
Uzbekistan, the Engine of Central Asia: GDP Above USD 145 Billion and Exports Rising to USD 33.4 Billion – Embassy of the Republic of Uzbekistan in Italy26.1.2026 14:31:00 CET | Press release
With a GDP exceeding USD 145 billion, exports of USD 33.4 billion up 23 percent, and gold reserves surpassing USD 60 billion, Uzbekistan enters 2026 with solid and steadily strengthening macroeconomic indicators. The Embassy of the Republic of Uzbekistan in Italy claims that the climate of confidence, reaffirmed in the State of the Nation Address delivered on 26 December by President Shavkat Mirziyoyev, is reflected in international trade data: total foreign investment has reached USD 43.1 billion, equal to 31.9 percent of GDP. This trajectory has also contributed to an improvement in the country’s sovereign rating, upgraded to BB by the leading international rating agencies. For the current year, the Government forecasts economic growth of 6.6 percent, with GDP estimated at USD 167 billion. A total of 782 new industrial and infrastructure projects will be launched, with an overall value of USD 52 billion, including 228 large production facilities as early as next year. The focus will
Lucend, Formerly Coolgradient, Raises $3.3M to Bring Transparent AI to Data Centers to Increase Uptime and Reliability While Maximizing Efficiency26.1.2026 14:00:00 CET | Press release
Lucend Seed round led by Remarkable Ventures Climate (RVC) to bring Transparent AI insights to data center operators in the U.S. increasing operational efficiency by 40% Lucend today announced that it is bringing its transparent data center optimization to the U.S. market, helping enterprises illuminate complex operational environments and empowering data center operators, innovation officers, and sustainability officers with the intelligence they need to act with trust, accuracy, and confidence. Lucend’s Transparent AI platform connects to existing infrastructure, no new hardware required, to transform static systems into adaptive, self-learning environments. The software takes existing sensor data to see connections across 300 billion sensor readings. Lucend’s AI analyzes billions of data points daily and provides prescriptive recommendations. The intelligence that Lucend’s platform delivers “shows its work,” empowering operators and delivering verifiable impact across enterprise env
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