Qdrant Raises $28M to Advance Massive-Scale AI Applications
BERLIN, Jan. 26, 2024 -- Qdrant, a leading high-performance, open-source vector database, has announced the successful completion of its Series A funding round, securing a $28 million investment led by Spark Capital, with participation from existing investors Unusual Ventures and 42CAP.
Qdrant excels in managing and searching high-dimensional data and in handling billions of vectors with unmatched efficiency and scale, making it indispensable in modern AI and machine learning applications across industries.
In the past year, Qdrant has exceeded 5 million downloads and has seen tremendous enterprise adoption with companies like Deloitte, Hewlett Packard Enterprise, Bayer, and many more Fortune 500 companies. Qdrant recently also expanded its managed cloud offering through collaborations with AWS, Google Cloud, and Microsoft Azure.
Committed to privacy and security, crucial for modern AI applications, Qdrant now also offers on-premise and hybrid SaaS solutions, meeting diverse enterprise needs in a data-sensitive world. This approach, coupled with its open-source foundation, builds trust and reliability among engineers and developers, making Qdrant a game-changer in the vector database domain.
"We have seen incredible user growth and support from our open-source community in the past two years, a testament to our mission of building the most efficient, scalable, high-performance vector database on the market," said Qdrant CEO and Co-Founder André Zayarni. "We are excited to further accelerate this trajectory with our new partner and investor, Spark Capital, and the continued support of Unusual Ventures and 42CAP. This partnership uniquely positions us to empower enterprises with cutting edge vector search technology to build truly differentiating, next-gen AI applications at scale."
"All of us at Spark are thrilled to partner with the Qdrant team as they continue to build the most powerful vector search database and infrastructure," said Yasmin Razavi, general partner at Spark Capital. "Much of the world’s data will eventually be stored in some form of vector space; as the volume of vectorized data multiplies, Qdrant will stand out as the only technology built from scratch with ease of use, speed, and unparalleled scalability in mind."
To learn more about Qdrant, please visit qdrant.tech.
About Qdrant
Qdrant is the leading, high-performance, scalable, open-source vector database and search engine, essential for building the next generation of AI/ML applications. 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.
Source: Qdrant
