Evroc's CEO, Mattias Åström, emphasizes the importance of Europe controlling its own digital destiny amid geopolitical tensions and the growing need for cloud infrastructure to leverage AI. The company, which initially launched with €13 million in funding, plans to raise significantly more capital by 2025 to build its software stack and expand its data center footprint. Evroc's approach includes attracting top talent, particularly in its London office, and following a funding model similar to other cloud infrastructure players, using debt to finance data center expansion.
Key takeaways:
- Evroc, a Swedish startup, has raised €50.6 million in Series A funding to build a hyperscale cloud company in Europe, focusing on secure, sovereign, and sustainable infrastructure.
- The company plans to establish eight data centers by 2028, with current facilities in Stockholm and Paris, and additional ones expected in Frankfurt, focusing on AI workloads.
- Evroc aims to reduce Europe's reliance on foreign-owned digital infrastructure, aligning with the region's digital sovereignty agenda amid geopolitical tensions.
- The company plans to raise significantly more capital by 2025, focusing on building a developer-friendly hyperscale cloud akin to AWS, with a strong emphasis on software development.