QNu Labs expects revenue to grow multi-fold to Rs 200 crore by FY26

Quantum computing startup QNu Labs expects its revenue to grow multifold to Rs 200 crore by FY26 on the Rs 500 crore pipeline from India, the Middle East and the US, a top company official said on Wednesday.

QNu Labs CEO Sunil Gupta at India Mobile Congress told PTI that the growth is largely driven by the adoption of quantum security solutions in defence and interest from enterprises in the technology.

"Last year, we had revenue of Rs 24 crore. This financial year, we are expecting revenue of Rs 100 crore and then Rs 200 crore in the next financial year. The growth is largely being driven by wider adoption of quantum technology in the Defence sector and gradual interest coming from enterprises," he said.

Gupta said the company has deployed a quantum solution for building quantum secure digital certificates and bagged a deal from Defence through iDEX.

"A large part of our revenue comes from the government and from next year, we expect over 50 per cent of our revenue to come from private enterprise. We have a pipeline of Rs 500 crore comprising interest from entities to deploy quantum solutions. We have interest from banking, telecom and healthcare," he said.