QpiAI: The Indian quantum startup that is changing the direction of technology – 10 key points

1. $32 million in funding and government support

• Indian startup QpiAI has raised Series A funding of $32 million (about ₹265 crores), co-led by the Government of India and Avataar Ventures. The investment is part of India’s $750 million National Quantum Mission.

2. India’s first full-stack quantum computer

• QpiAI will launch India’s first full-stack quantum computer called QpiAI-Indus in April 2025, which has 25 superconducting qubits. It is considered a milestone in India’s technological history.

3. Combination of AI and Quantum: Technology of the Future

• QpiAI believes that the combination of quantum computing and artificial intelligence (AI) can solve complex problems that are difficult for traditional computing, such as drug discovery, material science and optimization.

4. 64-qubit computer ready in November

• The company will launch its next quantum computer in November 2025, which will have 64 qubits. This computer will be available to customers by the second or third quarter of 2026.

5. Local manufacturing plan from 2026

• QpiAI is now preparing to make its own quantum hardware in India. Currently, 80% of the machines are assembled in-house by the company, but full manufacturing is planned from 2026.

6. Plan to expand worldwide.

• Using the new funding, the company now wants to expand to international markets like Singapore and the Middle East. Also, work is going on towards developing a 100-logical-qubit system by 2030.

7. Support to other startups too.

• Apart from QpiAI, the government has also supported other Indian startups like QNu Labs, Dimira Technologies, and PrenishQ. These startups are working in areas like cybersecurity, laser systems, and optical clocks.

8. The company is already profitable.

• QpiAI told TechCrunch that it has been profitable at the EBITDA level for the last three years. The company’s gross margin is 60% and net margin is between 20% and 30%, which is a big deal for a tech startup.

9. Customer base and team of experts

• The company has about 20 customers in the US and India, including the Government of India. The company’s team has 100 employees, of whom 25 are PhDs and 50 are based in India.

10. Preparing for IPO by 2026-2027

• QpiAI CEO Nagendra Nagaraja has indicated that the company is preparing to bring an IPO in the next 2-3 years. This could make it India’s first quantum-focused listed startup.