India, July 16 -- Deeptech startup QpiAI has raised $32 Mn (around INR 279 Cr) in its Series A funding round co-led by Avataar Ventures and National Quantum Mission.

The round also saw participation from a host of undisclosed existing and new investors.

The Bengaluru-based company will deploy the freshly raised funds to accelerate delivery of its utility scale quantum computer and expand its global footprint. The company also has offices in Finland and the US.

"We were able to achieve great traction in commercialisation of NISQ (Noisy Intermediate State Quantum) computers used for education, research and algorithmic prototyping. Markets are ripe for utility scale quantum computers with logical qubits and we are leading efforts towards ...