Qdrant Secures $28 Million in Series A

by Kay Aloha Villamor in January 24th, 2024

Qdrant, a Berlin, Germany-based open-source vector database specializing in managing and searching high-dimensional data, has secured $28 million in Series A.  

SaaS Investors  

The round was led by Spark Capital, with participation from existing investors Unusual Ventures and 42CAP.   

Spark Capital is a venture capital firm that invests in the consumer, commerce, FinTech, software, frontier, and media sectors. Founded in 2005, the firm prefers to invest in seed-stage, early-stage, growth-stage, and later-stage companies.  

Qdrant Use of Funds  

The company will use the funding to accelerate its trajectory in the vector database domain.  

About Qdrant  

Qdrant is a developer of a vector similarity search technology designed to power the next generation of artificial intelligence (AI) applications. The company, committed to privacy and security, offers on-premise and hybrid SaaS solutions, expanding its managed cloud offerings through collaborations with AWS, Google Cloud, and Microsoft Azure. Qdrant is able to handle billions of vectors, supports the matching of semantically complex objects, and is implemented in Rust for performance, memory safety, and scale.  

Funding Details         

Company: Qdrant Solutions GmbH

Raised: $28.0M      

Round: Series A  

Funding Month: January 2024         

Lead Investors: Spark Capital   

Additional Investors: Unusual Ventures and 42CAP  

Company Website: https://qdrant.tech/   

Software Category: Vector Similarity Search Engine and Vector Database  

Source: https://www.businesswire.com/news/home/20240123678114/en/  

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