diff --git a/CHANGELOG.md b/CHANGELOG.md
index c555e65a171..d0aa4273736 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -5,6 +5,25 @@ All notable changes to this project will be documented in this file.
 The format is based on [Keep a Changelog](https://keepachangelog.com/en/1.0.0/),
 and this project adheres to [Semantic Versioning](https://semver.org/spec/v2.0.0.html).
 
+## \[2.5.0] - Unreleased
+### Added
+- TDB
+
+### Changed
+- TDB
+
+### Deprecated
+- TDB
+
+### Removed
+- TDB
+
+### Fixed
+- TDB
+
+### Security
+- TDB
+
 ## \[2.4.0] - 2023-03-16
 ### Added
 - \[SDK\] An arg to wait for data processing in the task data uploading function
diff --git a/cvat-cli/requirements/base.txt b/cvat-cli/requirements/base.txt
index d6dd5c616f3..b250055840c 100644
--- a/cvat-cli/requirements/base.txt
+++ b/cvat-cli/requirements/base.txt
@@ -1,2 +1,2 @@
-cvat-sdk~=2.3.0
+cvat-sdk~=2.4.0
 Pillow>=6.2.0
diff --git a/cvat-cli/src/cvat_cli/version.py b/cvat-cli/src/cvat_cli/version.py
index 707faadc7ee..02c476a630e 100644
--- a/cvat-cli/src/cvat_cli/version.py
+++ b/cvat-cli/src/cvat_cli/version.py
@@ -1 +1 @@
-VERSION = "2.3.0"
+VERSION = "2.4.0"
diff --git a/cvat-sdk/cvat_sdk/core/client.py b/cvat-sdk/cvat_sdk/core/client.py
index a5d00001b46..cdad451e06c 100644
--- a/cvat-sdk/cvat_sdk/core/client.py
+++ b/cvat-sdk/cvat_sdk/core/client.py
@@ -66,6 +66,7 @@ class Client:
         pv.Version("2.2"),
         pv.Version("2.3"),
         pv.Version("2.4"),
+        pv.Version("2.5"),
     )
 
     def __init__(
diff --git a/cvat-sdk/gen/generate.sh b/cvat-sdk/gen/generate.sh
index 27956094217..fdf211f89d6 100755
--- a/cvat-sdk/gen/generate.sh
+++ b/cvat-sdk/gen/generate.sh
@@ -8,7 +8,7 @@ set -e
 
 GENERATOR_VERSION="v6.0.1"
 
-VERSION="2.3.0"
+VERSION="2.4.0"
 LIB_NAME="cvat_sdk"
 LAYER1_LIB_NAME="${LIB_NAME}/api_client"
 DST_DIR="$(cd "$(dirname -- "$0")/.." && pwd)"
diff --git a/cvat/__init__.py b/cvat/__init__.py
index d5966d42a06..4f9cdb50d31 100644
--- a/cvat/__init__.py
+++ b/cvat/__init__.py
@@ -4,6 +4,6 @@
 
 from cvat.utils.version import get_version
 
-VERSION = (2, 4, 0, 'final', 0)
+VERSION = (2, 5, 0, 'alpha', 0)
 
 __version__ = get_version(VERSION)
diff --git a/docker-compose.yml b/docker-compose.yml
index 5f0e5c8921a..606430b59fb 100644
--- a/docker-compose.yml
+++ b/docker-compose.yml
@@ -25,7 +25,7 @@ services:
 
   cvat_server:
     container_name: cvat_server
-    image: cvat/server:${CVAT_VERSION:-v2.4.0}
+    image: cvat/server:${CVAT_VERSION:-dev}
     restart: always
     depends_on:
       - cvat_redis
@@ -63,7 +63,7 @@ services:
 
   cvat_utils:
     container_name: cvat_utils
-    image: cvat/server:${CVAT_VERSION:-v2.4.0}
+    image: cvat/server:${CVAT_VERSION:-dev}
     restart: always
     depends_on:
       - cvat_redis
@@ -84,7 +84,7 @@ services:
 
   cvat_worker_import:
     container_name: cvat_worker_import
-    image: cvat/server:${CVAT_VERSION:-v2.4.0}
+    image: cvat/server:${CVAT_VERSION:-dev}
     restart: always
     depends_on:
       - cvat_redis
@@ -106,7 +106,7 @@ services:
 
   cvat_worker_export:
     container_name: cvat_worker_export
-    image: cvat/server:${CVAT_VERSION:-v2.4.0}
+    image: cvat/server:${CVAT_VERSION:-dev}
     restart: always
     depends_on:
       - cvat_redis
@@ -127,7 +127,7 @@ services:
 
   cvat_worker_annotation:
     container_name: cvat_worker_annotation
-    image: cvat/server:${CVAT_VERSION:-v2.4.0}
+    image: cvat/server:${CVAT_VERSION:-dev}
     restart: always
     depends_on:
       - cvat_redis
@@ -148,7 +148,7 @@ services:
 
   cvat_worker_webhooks:
     container_name: cvat_worker_webhooks
-    image: cvat/server:${CVAT_VERSION:-v2.4.0}
+    image: cvat/server:${CVAT_VERSION:-dev}
     restart: always
     depends_on:
       - cvat_redis
@@ -169,7 +169,7 @@ services:
 
   cvat_ui:
     container_name: cvat_ui
-    image: cvat/ui:${CVAT_VERSION:-v2.4.0}
+    image: cvat/ui:${CVAT_VERSION:-dev}
     restart: always
     depends_on:
       - cvat_server
diff --git a/helm-chart/values.yaml b/helm-chart/values.yaml
index fe4bd430ad4..ba833701398 100644
--- a/helm-chart/values.yaml
+++ b/helm-chart/values.yaml
@@ -75,7 +75,7 @@ cvat:
       additionalVolumeMounts: []
     replicas: 1
     image: cvat/server
-    tag: v2.4.0
+    tag: dev
     imagePullPolicy: Always
     permissionFix:
       enabled: true
@@ -95,7 +95,7 @@ cvat:
   frontend:
     replicas: 1
     image: cvat/ui
-    tag: v2.4.0
+    tag: dev
     imagePullPolicy: Always
     labels: {}
     #  test: test