Qbeast to raise €520k in a round led by Inveready.

Spain 30 March 2021

Qbeast, a Barcelona, Spain-based software developer of a big data analytics solution, announced the completion of a €520k ($614k) capital funding round.

The money was raised from local investors from Spain, led by the VC Inveready and joined by Banco Sabadell's BStartup as well as by angel investors whose name was not disclosed.

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.

Total investments received (USD): 614k