Evroc, a forward-thinking Swedish startup, has successfully raised €50.6 million (approximately $55 million) in a Series A funding round aimed at establishing a hyperscale cloud company in Europe. The funding was spearheaded by a consortium of prominent investors, including U.S.-European venture firm Blisce, EQT Ventures, Norrsken VC, and Giant Ventures. With this injection of capital, Evroc aims to create a “secure, sovereign and sustainable hyperscale cloud to reimagine the digital future of Europe.”
The company plans to officially launch later this year and is already collaborating with early beta customers across various sectors that require heightened data sovereignty, such as defense, public sector, healthcare, and financial services. Evroc’s ambitious plan includes building eight data centers by 2028, with a focus on offering an array of cloud services tailored to meet the specific needs of its clients.
Funding and Strategic Vision
Evroc’s successful funding round reflects the growing demand for local cloud solutions in Europe as businesses and governments seek to maintain greater control over their data. The investment will allow Evroc to ramp up its operations and accelerate the development of its cloud infrastructure.
“I simply want Europe to control its own destiny,” stated Mattias Åström, CEO and founder of Evroc. “And while we’re at it, try to build something that is better.” This vision underscores Evroc’s commitment to providing European customers with a technology stack that prioritizes sovereignty and security.
The funding model adopted by Evroc mirrors that of established cloud infrastructure players like CoreWeave. By utilizing this approach, the startup aims to position itself as a competitive alternative in the European market.
Operational Footprint and Future Plans
Evroc currently employs over 60 staff members, predominantly focused on software development. Its workforce is distributed across Sweden, France, and the U.K., facilitating a diverse range of expertise essential for building its cloud infrastructure. The company operates two co-location facilities in Stockholm and two more in Paris.
The first flagship data centers are set to rise in Sweden and France, with an expected completion date in 2026. These centers will be primarily designed to handle artificial intelligence workloads. According to Åström, “Both will be equipped with liquid cooling but will also host compute and storage servers,” indicating a commitment to advanced technology.
By the end of the second quarter of this year, Evroc anticipates having two additional facilities operational in Frankfurt. This expansion is part of a broader strategy to increase its presence across Europe and enhance service delivery capabilities.
Commitment to Sovereignty and Innovation
Evroc’s establishment comes at a time when there is an increasing emphasis on data sovereignty within Europe. As organizations face mounting pressure to safeguard sensitive information from foreign entities, Evroc’s services are likely to find a receptive audience.
The startup is already engaging with beta customers who operate in sectors characterized by high demands for data sovereignty. “That’s still the case, but the key here is [first] getting that software stack,” Åström emphasized, highlighting the necessity of developing robust software solutions before scaling operations further.
Evroc’s strategic partnerships and future fundraising plans signal its aspirations for growth and innovation. The company intends to raise additional capital significantly later in 2025, which will support its ambitious roadmap for expansion and enhance its service offerings.
Featured image courtesy of TechCrunch
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