QpiAI secures Rs 50 crore in debt from InnoVen Capital
Article image: EntrackrQpiAI builds quantum computing hardware and AI software for enterprise applications. Entrackr reports that company filings show a Rs 50 crore debt raise from InnoVen Capital through non-convertible debentures carrying a 13.85% annual coupon. The company has not disclosed the use of these proceeds; this financing is separate from its July 2025 Series A equity round.
DTT summary based on Entrackr's report. The full article is on the publisher's site.
Round details
Builds proprietary quantum-computing hardware and AI software for enterprise applications.
- NCD financing carries 13.85% annual coupon and December 2028 maturity.
- Earlier $32M Series A in July 2025 led by Avataar Ventures and NQM.
- Use of debt proceeds not disclosed; prior equity valuation is not a new debt-round valuation.
- Debt financing: ₹50 Cr
- Lender: InnoVen Capital
- Earlier rounds: Raised $32 million in Series A in July 2025, led by Avataar Ventures and the National Quantum Mission.
- HQ: Bengaluru