News Summary

Evroc, a Swedish startup, has successfully raised €50.6 million ($55 million) in Series A funding to spearhead the development of a sovereign and sustainable hyperscale cloud infrastructure within Europe. This initiative aims to reduce the continent’s reliance on foreign technology firms and enhance digital sovereignty amid ongoing geopolitical tensions. The funding will support the establishment of multiple data centers and cloud services, with a primary focus on AI workloads. Evroc plans to build eight data centers by 2028, with facilities already operational in Stockholm and Paris, and additional centers expected in Frankfurt by the end of the second quarter of this year. The company, founded by Mattias Åström, is already collaborating with early beta customers in sectors such as defense, public sector, healthcare, and financial services, where high data sovereignty is crucial. Åström emphasized the necessity of controlling Europe’s infrastructure to ensure the continent’s autonomy in the digital domain. The bulk of Evroc’s workforce is dedicated to software development, with significant hubs in Sweden, France, and the U.K. The company anticipates raising further capital in 2025 to continue its expansion and infrastructure development.