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2w ago

QpiAI Raises $32 Million in Series A to Accelerate Quantum AI Expansion

With support from Avataar Ventures alongside the National Quantum Mission the Bengaluru startup will roll out a 64-qubit system by November under a $162 million valuation.

QpiAI Indus quantum computer

Overview

  • QpiAI closed a $32 million Series A round co-led by Avataar Ventures and the National Quantum Mission at a $162 million post-money valuation.
  • The startup is one of eight firms backed by India’s National Quantum Mission, having earlier secured up to $3.5 million in grant funding under the ₹6,003 crore program.
  • QpiAI has been EBITDA-profitable for three years with approximately 60% gross margins and 20–30% net margins, supporting its cash runway.
  • The company says it plans to launch its 64-qubit quantum computer in November with customer access anticipated by mid-2026.
  • QpiAI aims to localize hardware manufacturing in 2026, expand into markets such as Singapore and the Middle East, and pursue a 100-logical-qubit system by 2030.