India propels global quantum computing with QpiAI
QpiAI, an Indian startup blending AI and quantum tech, just raised $32 million in Series A funding co-led by India's National Quantum Mission and Avataar Ventures.
Now valued at $162 million, the company plans to expand into Singapore, the Middle East, and boost local production of quantum hardware.
QpiAI-Indus: India's 1st full-stack superconducting quantum computer
Founded in 2019 by Dr. Nagendra Nagaraja, QpiAI launched QpiAI-Indus—India's first full-stack 25-qubit superconducting quantum computer—in April 2025.
Their tech mixes custom quantum hardware with AI-driven software for things like drug discovery and industrial optimization.
Up next: a 64-qubit machine later this year and aiming for 100 logical qubits by 2030.
QpiAI has been EBITDA profitable for 3 years straight
QpiAI has about 100 employees (including 25 PhDs) across India, the US, and Finland.
They serve around 20 clients—some are government agencies—and have been EBITDA profitable for three years straight with gross margins near 60%.
An IPO could be on the cards as soon as 2026 or 2027.