Qdrant, the Open Source Vector Database Start-Up, Secures $28M Funding Round
Qdrant, known for its open-source vector database, has secured $28 million in Series A funding, led by Spark Capital. Founded in 2021 and based in Berlin, Qdrant aims to leverage the rapid growth of artificial intelligence (AI) by providing developers with an open-source vector search engine and database. This technology plays a crucial role in generative AI, which relies on establishing connections between unstructured data—such as text, images, and audio—that lacks organization, even when being processed in real-time applications. According to Gartner, unstructured data now constitutes around 90% of new enterprise data and is growing three times faster than structured data.