Qbeast to raise €520k in a round led by Inveready.
Qbeast, a Barcelona, Spain-based software developer of a big data analytics solution, announced the completion of a €520k ($614k) capital funding round.
Qbeast was founded in 2020 as a spinoff from the Barcelona Supercomputing Center (BSC) by CEO Cesare Cugnasco, Nicolás Escartin, Clemens Jesche and Pol Santamaria.
The company is working for building a business based on a cloud-based Big Data management tool that reorganizes and manages data through multidimensional indexing and sampling techniques so that it can be analyzed up to 100X faster. A benefit and likely a business case is reducing the need for computational resources, time, energy, money and facilitating better work dynamics within data analysis in companies.
Qbeast was initially funded by a local investor from Barcelona, Impulsetogrow, which has specialized in acceleration and investment in Deep Tech and Tech Transfer projects.