BANGALORE, India–(BUSINESS WIRE)–Jun 21, 2024–
QpiAI is a leader in quantum computing, generative AI and has announced its first external funding of $6,5 million to develop Quantum computing products and platforms.
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Dr Nagendra Nagaraja is the Founder, CEO, and Chairman of QpiAI. (Photo: Business Wire).
Dr Nagendra Nagaraja, CEO and Founder at QpiAI, said: “The pre-series a round of QpiAI is going to be remembered as an important funding round in Indian Deeptech. This round will allow us to lay the foundation for intelligence modelling and intelligence computation via Quantum computers, and Generative AI. This funding will allow us to achieve breakthrough innovations in vertical integration of GenerativeAI and Quantum computing for enterprise and industrial applications. We will also demonstrate 25 Qubit Quantum Computers in our Bangalore HQ before Q4 CY2024/ Q1CY 2025. We will have a prototype Quantum-HPC QpiAI Datacenter with integration of HPC built from our lab infrastructure and integration of all our 7 Quantum AI and Generative platforms. This can be scaled to offer QCaaS. Our current customers are also interested in implementing Quantum-HPC with our software and compute infrastructure. This funding will enable us to innovate in Generative AI, Quantum software and Compute infra with Quantum capabilities. QpiAI Quantum AI stack, including software and hardware, will have a tremendous impact on pharma and non-energy transition materials. It will also have a huge impact on manufacturing, logistics, finance, and manufacturing .”
Dr Nagendra added that “QpiAI thought-leadership in Quantum and AI has also helped shape technology roadmaps and infrastructure.” QpiAI has its headquarters in Bangalore, India with subsidiaries in the US and Finland. We will expand our presence in these areas as we work with Global Enterprises and Governments, including the US, Europe and Japan, Middle East, Southeast Asia and the Middle East.
Dr Manjunath R.V. Vice President for Quantum Computers QpiAI added that “Building Scalable Quantum Computers that can solve real-world problems and bolster industry verticals is an important technology development.” We are excited at QpiAI to have our Quantum computers in order to build Quantum and AI Data Centers. Our team is very happy to have multiple quantum processor units in our dilution fridge to ensure we achieve high-quality quantum compute infrastructure. We are excited to see what the next steps will be in our roadmap for Quantum computers scaling from 25 qubits up to 1000 qubits .”
Sachin Kumar, Lakshya Prishya and Aswanth Krsnan, who lead software products and solutions for Generative AI software and Quantum software suggested that “In the last four years, we have been able to commercialize and gain traction with large bluechip enterprise clients.” We envision scaling our software platform globally with this funding and all 7 software products that are ready to scale. We are looking forward to a very exciting future. There is a lot of interest from customers to see QpiAI Quantum software platform working with QpiAI Quantum AI HPC datacenters in order to implement their next-gen applications in pharma materials, fintech automotive and manufacturing.
Sunil Goyal, MD, Yournest, who led the funding, added that “By investing in QpiAI we’re helping India to be at the forefront of quantum computing.” This technology has the power to revolutionize industries such as materials science, drug development, automotive, and manufacturing. QpiAI is a key player to unlocking this potential because of their innovative approach. We’re excited to join Dr. Nagendra, the QpiAI Team and QpiAI on this exciting journey.
Debraj Banerjee is the President of SIDBI Venture Capital and Board Director of QpiAI, who led the funding from SIDBI ventures. He added that “SVCL is very proud to be a part of this important deeptech journey, which has national significance.” Quantum computers are going to change the world once we commercialize them. This technology is vital for national security and advanced computation. Our national institutes will benefit greatly from a home-grown Quantum Computer to advance our computation technologies. We are eagerly awaiting a 25 qubit working machine from QpiAI in Q4 of CY24/Q1 CY25.
Ramesh Radhakrishnan is a successful serial entrepreneur and veteran VC. He is also the Board Director of QpiAI. He added that “Quantum computers and AI will be the future in many different markets including pharma and transport, cybersecurity and financial, among others. Integration of Quantum System hardware and software with Application software is a fundamental change that will have a huge impact on AI and Quantum Computing. QpiAI, with its centers in the US & Finland, is well-positioned to scale Quantum & AI technologies and reach markets worldwide. I am very excited about being a part this wonderful journey.”
About QpiAI
QpiAI ( https://www.qpiai.tech ) is a world leader in AI and Quantum computing. QpiAI integrates Quantum computing and AI in vertically to provide solutions for manufacturing, industrial, transportation and finance. QpiAI also offers solutions for materials and pharma. It has a variety of software platforms and products, including QpiAI, QpiAI Explorer, QpiAIopt QpiAIML QpiAI Pharma and QpiAI Matter. QpiAI’s commercial-grade Quantum computing technology is a major advancement in generative AI.
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Contact email: info@qpiai.tech
KEYWORDS: INDIA ASIAN PACIFIC
INDUSTRY KEYWORDS: VENTURE CAPITAL NETWORKS SOFTWARE DATA MANAGEMENT PROFESSIONAL TECHNOLOGY OTHER TECHNOLOGY
SOURCE QpiAI
Copyright Business Wire, 2024.
PUB: 06/21/2024 8:09 AM/DISC 06/21/2024 8:09 AM
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