New Delhi, July 18 -- Quantum simulation software startup BQP and packaging company DCGpac have raised funding in separate early-stage rounds, the companies said on Friday.
BQP
BQP, a dual-use quantum-based simulation software company, has raised $4.9 million (around Rs 42.1 crore) in an oversubscribed seed round led by Monta Vista Capital to expand its unified digital twin platform, BQPhy, for critical industries such as aerospace and defense (A&D) and semiconductor manufacturing.
"This funding enables us to accelerate the development of our quantum-powered digital twin framework with these design partners and further expand our footprint in A&D and semiconductor industries," said Abhishek Chopra, founder and CEO of BQP.
The round saw participation from Empire State Development's New York Ventures, New York State's venture capital arm; Arc Ventures, Armory Square Ventures, Emergent Ventures, Alumni Ventures, Arka Venture Labs, Transpose Platform, Gaingels, and Pranatech Venture Capital. Angel investors and existing investors, including Paradigm Shift Capital and Griffiss Institute, as part of the Mojave Aerospace Accelerator Fund (MAACC), also participated in the round.
BQP, short for BosonQ Psi, is headquartered in New York with a technology hub in Bengaluru.
DCGpac
Business-to-business (B2B) packaging platform DCGpac has raised Rs 15 crore (around $1.74 million) in its Pre-Series A funding round led by GVFL, with participation from Auxano Capital.
The fresh capital will be utilised to enhance platform technology, and expand international operations. It also plans to introduce models such as RePac for reusable packaging as well as strengthening its warehouse solutions and procurement capabilities.
Gurugram-based DCGpac was founded by Suresh Bansal. The company counts among its investors names such as Inflection Point Ventures (IPV), Venture Catalysts (VCATS) and 9Unicorns. It claims to have delivered over 750 million packaging products to over 60,000 customers and operates across India and UAE.
Published by HT Digital Content Services with permission from VC Circle.