We are pleased to share that our portfolio company QpiAI has successfully raised US$ 32 mn, at a post-money valuation of US$ 162 mn, in its Series A funding round. The round was co-led by Avataar Ventures and the Indian Government’s US$ 750 mn National Quantum Mission; it saw participation from existing investors including YourNest Venture Capital. At YourNest, we are proud to continue backing QpiAI’s journey to unlock the full potential of quantum and AI which underscores our confidence in the team’s vision and its crucial role in advancing India's global quantum computing aspirations.
Founded in 2019, QpiAI has pioneered practical, globally relevant quantum solutions by integrating AI and quantum computing. Its proprietary full-stack 25-qubit quantum computer enables critical applications in material science, drug discovery, and more. QpiAI has achieved notable success in commercialising Noisy Intermediate-Scale Quantum (NISQ) computers for education, research and algorithmic prototyping, paving the way for utility-scale quantum computers with logical qubits. The company currently serves customers in the US and India including the Government of India. QpiAI’s technology has enabled it to file over 11 patents thereby solidifying its technological leadership.
While the company is operating profitably and has a long runway, this fresh funding will be utilised for further product development i.e. the launch of a 64-qubit machine in 2026, with an aim to launch a 1000-qubit machine by 2030, set up local manufacturing operations and scaling its innovative solutions into newer markets such as the Middle East and Singapore.
At YourNest, we invested in QpiAI in 2024, believing in their bold mission to revolutionise computing and drive significant advancements for mankind. Since then, the team has built deep execution capabilities and is now poised to lead the quantum wave globally.
Kudos to Dr. Nagendra Nagaraja and the entire QpiAI team for achieving this significant milestone.
