Qdrant's technology has attracted high-profile clients, including Deloitte, Accenture, and X (formerly Twitter). The company is also releasing its managed "on-premise" edition, allowing enterprises to host everything internally while accessing premium features and support provided by Qdrant. This follows the recent news that Qdrant's cloud edition is now available on Microsoft Azure, in addition to existing support on AWS and Google Cloud Platform.
Key takeaways:
- Qdrant, an open source vector database company, has raised $28 million in a Series A funding round led by Spark Capital.
- The company has launched a new super-efficient compression technology called binary quantization (BQ), which can reduce memory consumption by as much as 32 times and enhance retrieval speeds by around 40 times.
- High-profile adopters of Qdrant's technology include Deloitte, Accenture, and Elon Musk’s xAI, a company developing the ChatGPT competitor Grok.
- Alongside the funding, Qdrant is officially releasing its managed “on-premise” edition, giving enterprises the option to host everything internally but tap the premium features and support provided by Qdrant.