In a nutshell
- Polish Oxla, a platform offering database creation solutions, secured a $11M (€10.12M) seed funding round.
- The startup is backed by TQ Ventures, Lead Ventures, Warsaw Equity Group, and 4growth VC.
- The company will use the funds to drive commercialization and product development, targeting market share from existing leaders and addressing demand from underserved segments in data warehousing.
Designed for IoT, industrial applications, e-commerce, and cybersecurity
Polish Oxla is a distributed analytical database, specifically designed for large-scale data processing. It is suited for data-intensive workloads across IoT, industrial applications, e-commerce, and cybersecurity.
Oxla announced their successful seed round, totalling €10.12 millions, backed by TQ Ventures, Lead Ventures, Warsaw Equity Group, and 4growth VC.
Developed since 2020, Oxla’s foundation is rooted in database science and research. Kacper Szcześniak, Co-Founder and CEO at Oxla, shared: “In 2020, Adam Szymański (Founder and CTO, Oxla) approached me with the idea of building an entirely new analytical database, defying established beliefs about data infrastructure. Having known Adam from previous collaborations, I had no doubts about his technical genius or that he was onto something huge, so I decided to become one of Oxla’s early investors and, later on, join the company.”
Oxla accelerates commercialization with its innovative database
The data analytics market is set to grow significantly, with its size estimated at $57.66 billion in 2023. It is expected to expand at a compound annual growth rate (CAGR) of 24.79% over the forecast period from 2024 to 2031.
Oxla’s mission is to empower data engineers and data scientists by setting a new standard for efficiency in high-volume data processing. In January 2024, the company’s analytical database became generally available, marking the beginning of customer acquisition.
“In April 2022, our first investment in Oxla was for a 10 member team and a product still in MVP stage. Then, Oxla’s impressive technological foundation, particularly in speed and efficiency, truly stood out,” said Jan Nalbert, Investment Manager at Warsaw Equity Group.
Oxla’s executives plan to utilize the funds to accelerate commercialization and product development. The company, founded in Warsaw and now legally incorporated in Delaware, US, is introducing patented technology to speed up data queries and lower costs when processing data. In the future, Oxla aims to build a comprehensive data platform by integrating current analytics solutions and launching new products in the future.
Aiming to challenge industry leaders Snowflake, Databricks, and ClickHouse
As Oxla accelerates its commercialization, its reach has already expanded globally, according to a report from the company. “Oxla empowers the rapidly growing universe of data engineers and data scientists that require high-volume data processing. The team’s formidable background, ambitious vision, and relentless execution give us confidence that their analytical database is going to shake up the data infrastructure space,” said Schuster Tanger, Co-Founder and Co-Managing Partner at TQ Ventures.
Balázs Haszonics, CEO at Lead Ventures, emphasized the significance of Oxla’s innovation by participating in one of the largest seed rounds in CEE this year.
Oxla’s fully managed cloud offering is currently available on Amazon Web Services, with deployment options for Microsoft Azure and Google Cloud Platform in the final stages of development. Oxla’s main competitors are Snowflake, Databricks, and ClickHouse.
