Swedish cloud infrastructure startup Evroc has raised €50.6 million ($55M) in Series A funding to accelerate its mission of building Europe’s first sovereign hyperscale cloud.
The round was led by Blisce, EQT Ventures, Norrsken VC, and Giant Ventures, marking a crucial step in Europe’s push for independent digital infrastructure.
A European Alternative to U.S.-Dominated Cloud Services
Evroc aims to reduce Europe’s reliance on U.S. cloud giants like AWS, Microsoft Azure, and Google Cloud by developing a secure, sustainable, and AI-ready cloud infrastructure. The company plans to:
- Build eight flagship data centers by 2028 across Sweden, France, and Germany.
- Launch its first hyperscale cloud facilities in 2026, optimized for AI workloads.
- Develop a Europe-first cloud software stack, focusing on data sovereignty and security.
CEO Mattias Åström emphasized the need for infrastructure independence:
“Europe must control its own digital destiny. We’re not just building a cloud—we’re reimagining the future of European computing.”
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Geopolitical Tensions & the Urgency for Digital Sovereignty
The call for a European tech stack has grown amid geopolitical tensions and concerns over foreign-owned digital infrastructure. Events like:
- The U.S. sanctioning the International Criminal Court (ICC), affecting Microsoft’s ability to provide cloud services.
- Elon Musk restricting Starlink access to Ukraine, highlighting the risks of relying on private tech entities.
- The EU’s push for a sovereign satellite system, further emphasizing digital independence.
Funding & Future Expansion Plans
- Evroc raised €42M in August 2024, bringing its total Series A to €50.6M.
- The company is preparing for a larger funding round later in 2025, following a model similar to CoreWeave, using debt financing secured by AI infrastructure.
- Growing its London-based software hub to attract top talent from major cloud providers.
With $55M in new capital, Evroc is taking a bold step toward reshaping Europe’s cloud ecosystem, offering an alternative to Big Tech dominance while ensuring greater security, data sovereignty, and AI infrastructure for European businesses.
