QpiAI closes $6.5 million pre-Series A led by YourNest and SIDBI Venture Capital
The company’s first external financing backs its move from quantum software towards an integrated computing platform.
The June 2024 round brings venture firms and angel investors into QpiAI’s investor base. SIDBI Venture Capital’s Debraj Banerjee was set to join the board as its nominee, while investor Ramesh Radhakrishnan joined as a nominee of holding company Qpi Technology.
At the announcement, QpiAI was already selling software to enterprise customers. The next step was to combine its seven quantum and generative AI platforms with high-performance computing and a planned 25-qubit machine, creating a prototype infrastructure for quantum computing as a service.
Use of funds
Develop quantum-HPC infrastructure and scalable quantum computers
Scale seven quantum and generative AI software platforms
Expand international operations