Bengaluru-based quantum technology startup Quanfluence has raised $2M in a seed funding round led by pi Ventures, with participation from Golden Sparrow and Quantum Ecosystems and Technology Council of India (QETCI) founder Reena Dayal. The startup, incubated at IITM Incubation Centre, plans to use the funds to scale its near-term products and accelerate the development of its quantum computing technology.
Founded in 2021 by Sujoy Chakravarty, Ravi Mehta, Biman Chattopadhyay, Anil Prabhakar, Aditi Vaidya, and Sandeep Goyal, Quanfluence develops photonics-based quantum and quantum-inspired solutions. At the heart of its innovation is an optical Ising machine that leverages light waves for computation, enabling the simultaneous processing of hundreds of interconnected variables at speeds up to 100 times faster than traditional optimization methods. Its current system handles 128 variables, processing around 10K permutations, and the company is testing a more advanced version capable of handling 10-25M permutations, slated for release next quarter.
“This funding enables us to enhance our photonic-based technologies, scale the optimiser, and accelerate the development of our general-purpose quantum computer,” said Sujoy Chakravarty, co-founder of Quanfluence. The technology is designed to tackle complex optimization problems in areas such as financial risk management, logistics, workforce scheduling, and delivery route optimization. Shubham Sandeep, managing director at pi Ventures, added, “Their photonic-based technology holds the potential to transform industries by addressing complex optimization challenges where classical computing falls short.”
The investment underscores India’s growing focus on quantum technology, backed by initiatives such as the National Quantum Mission (NQM). Approved in 2023, the Mission allocated INR 6,003.65 Cr until 2031 to support quantum technology startups, with grants ranging from INR 10-50 Cr aimed at enabling global scalability. This funding also follows the $6.5M raised last year by quantum cybersecurity startup QNu Labs in a pre-Series A1 round, the largest private investment in an Indian quantum tech company to date.
