The rapid acceleration of digital transformation has led to a surge in demand for real-time processing and application of big data across various industries. Consequently, the need for timely analysis has become increasingly critical. SelectDB has a strong dedication to addressing the challenges faced by various industries and constructing a data warehouse that operates in real-time and possesses universal capabilities that can be applied across industries.
Beijing Flywheel Data Technology Co., Ltd. (hereinafter referred to as "SelectDB", Chinese: 飞轮科技), headquartered in Beijing, announced on June 1 that it has completed a Pre-A round of funding of over CNY 100 million, with undisclosed investors. The company has successfully concluded its third round of financing within a year of its inception, accumulating a total sum of almost CNY 1 billion. Previous investors include IDG, Sequoia China, and Xianghe Capital.
Founded in 2022, SelectDB is a cloud-native real-time data warehouse vendor. The company's core business, including the development and promotion of the open source real-time data warehouse Apache Doris, the provision of technical support business services for Apache Doris users, and the launch of SelectDB commercial products based on the Apache Doris kernel. So far, the company has established cooperation with dozens of strategic partners and has launched solutions such as data middleware and BI applications one after another. More than 80% of the top 50 Internet companies in China, as measured by market capitalization or valuation, have extensively employed Apache Doris in their fundamental online data analysis situations.
Recently, SelectDB also announced significant cooperation with AliCloud. As the first domestic side product partner of AliCloud Yaochi database, SelectDB will develop "AliCloud SelectDB version" with AliCloud, exploring Serverless and focusing on the optimization of cloud experience for upgrade.
According to authoritative information agency Internet Data Center (IDC)’s survey, the global data warehouse market will reach USD 29.7 billion in 2024, with a CAGR of 12% from 2019-2024; among which the cloud data warehouse market will reach USD 18.1 billion, with a CAGR of 25.3% from 2019-2024.
At the market strategy level, SelectDB is actively promoting internationalization strategy. According to a company executive, SelectDB is presently catering to domestic businesses expanding overseas, while also conducting trial runs with foreign clientele. Apache Doris boasts a significant global user base, with over 2,000 enterprise users spanning a diverse range of industries including finance, internet, energy, manufacturing, communication, and education, as per the official website's public information. SelectDB has announced that it will be shifting its global market focus towards North America and Southeast Asia in the coming years.
Data warehousing industry has attracted numerous companies, both domestic and international. Notable Chinese representatives in this field include Ali Cloud MaxCompute, Transwarp (Chinese: 星环科技), HashData (Chinese: 酷克数据), Oushu (Chinese: 偶数科技), and DorisDB. Meanwhile, international players such as Databricks from the U.S. and SAP SE from Germany have also made their mark.