The startup behind open source tool Polars raises $21M from Accel
The Dutch startup Polars, developer of the open-source data processing tool, has secured a significant €18 million Series A funding round led by the venture capital firm Accel. This investment underscores growing interest in European-developed data infrastructure and the potential for open-source projects to challenge established players in the data science and analytics space. It reflects the increasing emphasis on building a competitive European tech ecosystem. Polars, based in Amsterdam, offers a data processing library designed to be a high-performance alternative to existing solutions. The €18 million investment will allow the company to further develop the Polars open-source project, including increasing its community reach and its ability to scale across different platforms. This funding will support its growth and expand its capabilities. This investment will likely accelerate the adoption of Polars by data scientists and engineers across Europe and beyond. The rise of open-source data tools contributes to a more competitive digital landscape, giving EU-based companies more control over their data infrastructure. This empowers European organizations with alternatives to proprietary solutions.
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