Quanfluence secures $2 mn in funding to build Quantum Photonics

Quanfluence, a Bengaluru-based company focused on photonics and quantum-led solutions, has raised $2 million or ₹16.65 crore in a seed funding round led by pi Ventures. According to the company, the funding will scale its current products and advance its research and development initiatives.

It also aims to deliver near-term optimisation tools and achieve its long-term goal of developing a general-purpose quantum computer based on the continuous variable photonics paradigm within five to six years.

The startup’s current system can handle 128 interconnected variables, processing about 10K permutations. It is now testing an advanced version capable of processing 10-25 Mn permutations, scheduled 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,” Sujoy Chakravarty Co-Founder and CEO of Quanfluence, said in a statement.

The technology can be applied to complex optimisation problems in financial risk management, logistics, workforce scheduling, and delivery route optimisation.

Founded in 2021 by Sujoy Chakravarty, Ravi Mehta, Biman Chattopadhyay, Anil Prabhakar, Aditi Vaidya and Sandeep Goyal, Quanfluence develops photonics-based quantum and quantum-led solutions. The startup was incubated at the Indian Institute of Technology Madras (IITM) Incubation Centre.

Quanfluence’s core technology includes an optical Ising machine that uses light waves as computational units. The system can process hundreds of interconnected variables simultaneously, making it 100x faster than traditional optimisation methods.

Shubham Sandeep, managing director at pi Ventures, said, “Their photonic-based technology holds the potential to transform industries by addressing complex optimisation challenges where classical computing falls short.”

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

The investment comes at a time when quantum technology is gaining significant traction in India. Last year, quantum cybersecurity startup QNu Labs raised $6.5 Mn in its pre-Series A1 round led by Ashish Kacholia of Lucky Investments, marking the largest private investment in an Indian quantum technology startup.

The sector has also received robust support from the government through the National Quantum Mission (NQM), which was sanctioned in 2023 with a budget allocation of ₹6,003.65 crore until 2031. According to Ajai Chowdhury, the chairman of the NQM governing body, the Mission is poised to offer grants ranging from ₹10 to ₹50 crore to 10 to 15 quantum technology startups to assist them in achieving global expansion.