A Swedish startup aiming to build a hyperscale cloud company in Europe has raised € 50.6 million ($ 55 million) in Serie A. Evroc funds, as it is called, is laying the foundations for a “secure, sovereign and sustainable cloud to reimony the digital future of Europe”.
The announcement comes between the growing calls to create a stack of European technology, an independent of American technology firms and the changing political landscape. Only this week, a coalition from the entire European technology industry called for “radical action” by lawmakers to reduce the region’s confidence in foreign -owned digital infrastructure, pressuring home alternatives to applications, patterns, chips and full range of cloud services.
EVROC aims to benefit from this moment. The three -year -old company plans to build data centers and a variety of cloud services. At its beginning in 2023, EVROC described plans to create eight data centers by 2028. Today, he says there are two co-global facilities in Stockholm and two in Paris.
By the end of the second quarter of this year, the company expects to have two additional facilities operating in Frankfurt, with the work already underway in its first flag data centers in Sweden and France, planned for completion in 2026 with the workload of it as the main focus.
“They (….) are designed for the energy density required for him, where shelves can consume 20 times what a traditional server rack can,” told Techcrunch CEO of EVROC and founder Mattias åström (photo above). “Both will be fitted with liquid cooling, but will also wait for the calculation and storage servers.”
EVROC official launch is planned for later this year, with åström, adding that it is already working with early beta clients in industry that require a “high need for sovereignty”, including protection, public sector, health care and financial services. He also hinted at additional data centers coming next year, though the company is not ready to confirm the specifics.
Digital sovereignty
Europe’s digital sovereignty agenda is nothing new. In fact, most American technology giants are already investing in local infrastructure to ensure compliance with EU data residence regulations. He Darling Openai also recently discovered a new offer that allows customers to process and store data in Europe.
But with the increase in geopolitical tensions, åström argues that control over Europe’s infrastructure is more important than just server countries.
For example, Donald Trump last month signed an executive order authorizing economic sanctions against the International Criminal Court (ICC) in the Netherlands, accusing him of “unlawful and unfounded acts” against the US and Israel. These sanctions affect how technology companies can serve organizations, with a Guardian report showing that ICC relies heavily on Microsoft Azure Cloud for data storage.
Elsewhere, Elon Musk – now a central figure in US government operations – previously admitted to hitting Ukraine’s access to Starlink satellites, operated by his Spacex company. Recently, he claimed that the entire first line of Ukraine would collapse if he would choose to turn it off. Although Musk later withdrew, the incident served as another reminder of the importance of infrastructure independence. And it’s also why the EU is falsifying forward with plans for a sovereign satellite constellation to rival Starlink.
“I just want Europe to control its fate,” said åström. “And while we are in it, try to build something that is better.”
Geopolitical riots aside, the revolution of it means that organizations previously rely on infrastructure within the premises now need to consider the cloud to fully exploit it.
Some European startups are already building cloud infrastructure in Europe, including Flexai, France, Datacrunch, Finland and Nebius in the Netherlands – an entity that emerged from Yandex’s grace last year.
However, while many of these players focus on his calculations, EVROC aims to build a broad, friendly cloud with the developer, which is more similar to AWS and its illustration.
Most EVROC 60-plus employees are focused on software development, widespread in Sweden, France and UK åström noted that the center of London was not originally planned, but became necessary to attract high talent from major technology firms.
“I’m actually very excited about our London office – it was not part of the initial plan, but to get extremely smart people working for hyperscalers, it was the right decision,” he said.
Tell me the money
When EVROC started from thefts two years ago with € 13 million in funds, åström told Techcrunch that he planned to raise up to 3 billion euros in capital within two years. By August last year, the news said EVroc had gathered € 42m as part of its Serie A, and now the round has been closed to € 50.6 million with investments from US enterprise firm Blisce, EQT Ventures, Norrans VC, and Giant Ventures.
It has not escaped the elephant in the room, however. Building anything close to what the hyperstar has built requires a cash pit-so EVROC still plans to collect billions?
“This is still the case, but the key here is (first) taking this software stack,” continued åström. “Europe has a lot of data centers, but we really don’t have that cloud. This round of net capital is really helping us build the software stack.”
The company plans to raise more capital significantly later in 2025, following a financing model similar to other cloud infrastructure players like Coreweave, which has raised its trail by borrowing against collateral such as Nvidia Chips.
“Building data centers will require a lot of additional investment, but the good news is that you can finance it with debt,” said åström.
