pi Ventures leads $2 million seed round in Quanfluence to advance quantum photonics technology

Quanfluence, a startup pioneering photonics based quantum and quantum inspired solutions, has raised $2 million in a seed funding round led by pi Ventures.

The round also saw participation from Golden Sparrow, Reena Dayal and others. Reena is also the Founder and CEO of the Quantum Ecosystems and Technology Council of India (QETCI).

What does Quanfluence do?

Founded in 2021 by Sujoy Chakravarty, Ravi Mehta, Biman Chattopadhyay, Prof Anil Prabhakar, Aditi Vaidya and Prof Sandeep Goyal, and incubated in the IITM Incubation Centre, Quanfluence is a Bengaluru-based photonic quantum technology startup that has a hardware based optimization solution that complements AI to improve decision making ability.

The startup claims that its 100x faster optimization technology is powered by its optical Ising machine, which leverages light waves as computational units. These waves are manipulated through advanced photonic circuits and paired with high-speed field-programmable gate arrays (FPGAs), enabling the system to process hundreds of interconnected variables simultaneously.

Notably, its current system is capable of handling 128 interconnected variables (~10,000 permutations).

Quanfluence is testing a more advanced version capable of processing 10-25 million permutations, scheduled for release next quarter to address complex real-world optimization challenges such as financial optimization and risk management, logistics, workforce scheduling, optimizing delivery routes etc.

The startup is also on a mission to develop a fault-tolerant, general-purpose quantum computer within the next five to six years.

Purpose of fundraising

Quanfluence plans to use the raised capital to scale its near-term products and bringing them to market. These products will showcase the practical applications of its ising machine while building momentum for its ultimate goal.

Further, the funds will advance research and development for Quanfluence’s flagship quantum computer, the release notes.

"This funding is a significant milestone for us, reinforcing our vision to pioneer quantum computing from India. It enables us to enhance our photonic-based technologies, scale the optimizer, and accelerate the development of our general-purpose quantum computer. We deeply appreciate the trust and support of our investors, who share our belief in the transformative potential of quantum computing," said Sujoy Chakravarty, who is also the CEO of Quanfluence.

Investor comments

Shubham Sandeep, Managing Director at pi Ventures, said: “Quanfluence represents the ideal fusion of cutting-edge innovation, bold vision and near-term commercialization in quantum computing. Their photonic-based technology, already available today,  holds the potential to transform industries by addressing complex optimization challenges where classical computing falls short."

pi Ventures is an early stage venture capital fund that invests in AI and deeptech startups in India. The VC fund portfolio includes world leading technology companies like Wysa, Pixis, Agnikul, Silence Laboratories and Niramai among others.