Law firm Cyril Amarchand Mangaldas facilitates a ~₹280 crore Series A funding round for QpiAI
In a significant development for the Indian tech industry, QpiAI, a deep tech startup focused on quantum computing and AI, has raised approximately ₹280 crore ($32 million) in a Series A funding round. The fundraising was led by Avataar Capital and the National Quantum Mission (NQM), a department under the Government of India's Department of Science and Technology.
The legal advisor for this transaction was Cyril Amarchand Mangaldas, a reputed law firm based in India. The funding round did not involve any debt financing, equity swap, or convertible notes.
QpiAI's proprietary full-stack quantum computing platform integrates custom hardware and advanced software, aiming to address real-world enterprise applications such as materials science and drug discovery. The company's team consists of over two dozen Ph.D.-level researchers specialized in quantum computing and AI, operating across India, Finland, and the US.
The funds raised will be used to accelerate the development of scalable quantum computers with logical qubits capable of commercial enterprise deployment. This advancement aims to move beyond current intermediate quantum systems used primarily for prototyping.
Cyril Amarchand Mangaldas provided legal advice for the transaction, with Arun Prabhu (Partner, Head - Technology), Jayant Belgaumkar (Senior Associate), Stuti Agarwal (Associate), and Saurav Samaddar (Partner) leading the team. Additional advice on data protection, intellectual property, and technology aspects was provided by Arpita Sengupta (Principal Associate), Kanav Khanna (Associate), and Tannvi R (Associate).
This fundraise marks a significant milestone for QpiAI, supporting its mission to build India’s first enterprise-grade quantum computing platform with commercial applications. The funding round was signed on March 6, 2025, and closed on July 25, 2025.
[1] QpiAI Raises $32 Million in Series A Funding for Quantum Computing Platform (TechCrunch, 2025) [2] QpiAI Secures Series A Funding for Quantum Computing Platform (Business Standard, 2025) [4] QpiAI Announces Series A Funding for Quantum Computing Platform (QpiAI Press Release, 2025) [5] QpiAI's Quantum Computing Platform Targets Enterprise Applications (The Hindu, 2025)
The raised funds from the Series A funding round will primarily be utilized for the accelerated development of scalable quantum computers. This advancement in quantum computing and AI could potentially open new avenues for investing in the business sector, especially in industries like materials science and drug discovery.
