Warsaw-based startup Oxla, which develops a next-gen OLAP database for ultra-fast and efficient analytical data processing, has secured $11 million in a seed round. The funding came from TQ Ventures, Lead Ventures, Warsaw Equity Group, and 4growth VC.
- Founded in 2022 by Adam Szymański and Kacper Szcześniak, Oxla builds a next-generation OLAP database that delivers extremely fast and efficient data processing. Its all-in-one design allows for smooth real-time analytics and handling of complex queries, with quick setup and compatibility with PostgreSQL for easy data management.
- The startup employs 49 people. With its focus on modern hardware, Oxla enables lightning-fast data processing while using minimal resources. This makes it a cost-effective solution for businesses looking to improve their analytics.
- With query execution speeds up to ten times faster and costs reduced by up to 85% compared to platforms like Snowflake, Databricks, and ClickHouse, the startup is perfectly suited for handling data-intensive workloads across various sectors, including IoT, industrial applications, e-commerce, and cybersecurity.
Details of the deal
- The seed round was funded by TQ Ventures, Budapest-based VC Lead Ventures, Warsaw-based VC Warsaw Equity Group, which invests between €4 to €15 million in innovative B2B companies within the High-Tech/Industry 4.0 and ClimateTech sectors, primarily in Poland and the CEE region, and Warsaw-based investment management firm 4growth VC.
- Oxla plans to use the capital to enhance its product and accelerate its go-to-market strategy. It will also improve the efficiency and accessibility of large-scale analytical data processing to better serve its customers.
"While I’m incredibly proud of our product as it stands today, there’s much work ahead of us. With this support, we can continue building Oxla and accelerate our GTM, making large-scale analytical data processing even more efficient and accessible," Founder & CTO of Oxla, Adam Szymański, commented on LinkedIn.
