₹50 crore through 5,000 non-convertible debentures issued to InnoVen Capital at a 13.85% annual coupon, maturing on 1 December 2028. The use of funds is undisclosed.
FY25 operating revenue was about ₹2 crore against a ₹16.67 crore loss. A year's interest on this debt is roughly ₹6.9 crore, more than three times that revenue.
QpiAI says it has put $20 million to $25 million into its own quantum chip foundry and plans $10 million to $15 million more, against a $32 million Series A, which explains why it needs capital bet…
Debt avoids selling about 2.4% of the company at its estimated ₹2,050 crore valuation, a bet that the next round prices higher once the 64-qubit Kaveri system and the foundry are delivering.
The debt matures two years before the 1,000-qubit target, so repayment depends on further equity or government money. The National Quantum Mission co-led the Series A and is the company's most impo…
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