Funding

[Funding alert] Berlin-based Qdrant Secures $28M in Series A Round Funding

Jan 24, 2024 | By Startup Rise EU

Berlin-based Qdrant secures $28M in series A round funding. Leading the round was Spark Capital, with participation from 42CAP and Unusual Ventures, two current investors.

Berlin-based Qdrant secures $28M in series A round funding. Leading the round was Spark Capital, with participation from 42CAP and Unusual Ventures, two current investors.

With the money, the company hopes to expand its database more quickly, improving scalability and efficiency for use in artificial intelligence applications. Qdrant, under the direction of CEO André Zayarni, offers an open-source vector database and search engine that are vital for developing the upcoming wave of AI/ML applications.

Reda also - Paris-based Kiln Secures $17m in Funding

Qdrant is implemented in Rust for performance, memory safety, and scalability. It can handle billions of vectors and facilitates the matching of semantically complicated items.

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In an era where data security and privacy are crucial, Qdrant now provides on-premise and hybrid SaaS solutions to address a range of organisational demands.

Read also - European Tech Community Upscalers Secures Pre-Seed Funding

About Qdrant

An open-source vector search database is called Qdrant Engine. It launches as an API service that allows users to look for the closest high-dimensional vectors. Neural network encoders or embeddings can be fully functional applications for matching, searching, recommending, and much more with Qdrant.

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