Warsaw-based Oxla, a tech startup working on analytical database, has secured $11M in seed funding to drive its mission of transforming high-volume analytical data processing. Backed by TQ Ventures, Lead Ventures, Warsaw Equity Group, and 4growth VC, the funding will accelerate the company’s global commercialisation efforts and product development, positioning it as a strong competitor in the data infrastructure space currently dominated by industry giants like Snowflake, Databricks, and ClickHouse.
As data becomes central to decision-making, the need for faster and more cost-efficient processing is increasing. Oxla claims its system can execute analytical queries ten times faster and at up to 85% lower costs than traditional data warehouses making it a useful tool in industries such as IoT, e-commerce, and cybersecurity.
“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,” said Kacper Szcześniak, Co-Founder and CEO at Oxla, ” 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. Fast forward to 2024, Oxla is now a 49-person team of exceptionally talented people, driving a product poised to disrupt the data infrastructure space.”
The Polish startup’s distributed database became widely available in January 2024. Independent testing, conducted through the ClickBench benchmark, confirmed its performance. Cost savings were assessed by Oxla’s own team through a pricing comparison. The technology is already in use by customers across four continents, and it is being adopted in industries such as industrial applications, cybersecurity, and retail due to its ability to handle data-heavy tasks efficiently.
Revolutionising data infrastructure
Further, Oxla aims to support data engineers and scientists by offering scalable and developer-friendly solutions. Its query processing cluster adjusts automatically based on demand, ensuring efficient use of resources. Unlike traditional data warehouses, Oxla separates query processing from storage, allowing for faster execution and cost savings.
The platform’s pricing is based on usage. For self-hosted deployment, the fee is $0.06 per hour per vCPU. AWS deployment costs $0.08 per hour per vCPU. The fully managed Oxla Cloud service, which includes license fees and storage, is priced at $1.976 per hour.
US expansion in cards
With a current headcount of 49, including 40 engineers, Oxla plans to use its new funding to boost commercial efforts and expand its team further, as it moves from its Polish origins to a U.S. incorporation in Delaware and grows its global reach. The company has secured three patents, with three more pending, focused on hashmap optimisation algorithms. Meanwhile, Oxla’s fully managed cloud service is currently available on Amazon Web Services, with plans for deployment on Microsoft Azure and Google Cloud Platform.
Investors are optimistic about the company’s potential in the growing data analytics market. Schuster Tanger, Co-Founder of TQ Ventures, highlighted Oxla’s focus on data engineers and scientists needing large-scale data processing. He expressed confidence in Oxla’s ability to disrupt the data infrastructure space.
Future growth
Oxla plans to scale its platform to handle tens of petabytes of data and process hundreds of thousands of queries per second. This expansion positions the company as a significant player in the global data analytics market. Oxla’s platform, which already offers advanced data processing capabilities, aims to help businesses manage and utilise data more efficiently.
As the data analytics market is projected to grow rapidly, with the global market expected to reach $346 billion by 2030, Oxla’s technology could play a crucial role in reshaping data-heavy industries such as e-commerce, cybersecurity, and IoT.
Balázs Haszonics, CEO at Lead Ventures, pointed out, “Oxla is pioneering a new era in data warehousing. Participating in this $11M seed round, as the company claims ‘one of the largest in the CEE region in recent times,’ underscores our confidence in Oxla’s vision and exceptional team. Their solution is set to become a new standard in the field, redefining how businesses manage and leverage data. Lead Ventures is committed to investing in transformative technologies, and Oxla’s innovations perfectly align with our mission.”
In 2024, Central and Eastern Europe (CEE) saw some notable venture capital investments. One of the largest rounds included a €180 million investment in Creatio, followed by a €160 million round for Rohlik, a Czech-based online grocery platform. Additionally, Polish-Finnish satellite tech firm Iceye raised €86.2 million in a Series D round.
For Q2 2024, the CEE region attracted €940 million in venture capital investments, highlighting the region’s ongoing growth, despite broader market uncertainties.
The post Polish alternative to Snowflake and Databricks snaps $11M for high-volume data analytics appeared first on Tech Funding News.