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.
This press release includes multimedia. View the full release here: https://www.businesswire.com/news/home/20240621533638/en/
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 logistics .”
Dr Nagendra added that “QpiAI’s thought leadership in Quantum, AI and technology has also helped shape technology and infrastructure road maps.” 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 (QPUs) 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 Prishyadarshi, and Aswanth Krsnan, who lead software products and solutions for Generative AI, Quantum software and Quantum software respectively, said, “In the past 4 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 of our software products. We are looking forward to a very exciting future. “There is a lot of interest from customers to see QpiAI Quantum software platform and QpiAI Quantum AI HPC datacenters working together to implement their next-gen applications in pharma and materials, fintech and automotive, and manufacturing.”
Sunil Goyal, MD, Yournest, who led the funding, added: “By investing 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. 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 was very excited to be a part of this important deeptech journey. Quantum computers are going to change the world once we commercialize them. This technology is vital for national security as well as advancing computation. It is important that our national institutes have a Quantum computer to advance our computation technologies. We are eagerly awaiting a 25 qubit working machine from QpiAI in Q4 of CY24/Q1 of CY25.”
Ramesh Radhakrishnan is a successful serial entrepreneur and veteran VC. He is also the Board of Directors at QpiAI. He added that “Quantum computers are the future in many different markets including pharma, transportation, cybersecurity, financial, and 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 vertical areas such as manufacturing, industrial, transportation and finance. QpiAI also offers solutions for materials, pharma, and materials. 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.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240621533638/en/