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Qdrant Raises $28 Million in Series A Round

The open source vector database startup Qdrant has raised $28 million in a Series A fundraising round headed by Spark Capital. The Berlin-based company Qdrant was founded in 2021 and is aiming to capitalize on the rapidly developing AI industry by providing developers with an open source vector search engine and database.

According to research from Gartner, unstructured data is expanding three times faster than structured data and accounts for over 90% of all new enterprise data. The world of vector databases is booming, with companies like Weaviate and Zilliz also raising significant funding for their open source vector databases.

Nine months have passed since Qdrant's last funding round, during which the company introduced binary quantization (BQ), a new, extremely effective compression technology aimed at low-latency, high-throughput indexing, which has attracted prominent adopters such as Accenture, Deloitte, and X.

Qdrant does not disclose which of its clients are using its managed services and which are using the open source version of the product. However, it did identify several startups that are