Quantum computing and AI firm QpiAI secures Rs 50 Cr debt financing from InnoVen Capital

Quantum computing and artificial intelligence company QpiAI has secured Rs 50 crore in debt financing from InnoVen Capital India Fund II, with the Bengaluru startup allotting 5,000 Series B non-convertible debentures to the fund, per RoC filings. The debentures have a face value of Rs 1 lakh each, carry a 13.85% annual coupon, and are secured. The transaction was approved by QpiAI’s board on August 28.