Qdrant Raises $28 Million to Advance Massive-Scale AI Applications

By Business Wire On Jan 23, 2024

Funding Fuels Expansion of Qdrant’s Open-Source Vector Database, Enhancing Scalability and Efficiency for Next-Gen AI Use Cases

Qdrant, the leading high-performance, open-source vector database, announced the successful completion of its Series A funding round, securing a $28M 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 5M 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. 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.” – André Zayarni, CEO & Co-Founder, Qdrant

“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. 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.” – Yasmin Razavi, General Partner at Spark Capital.

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