No Result
View All Result
  • Private Data
  • Membership options
  • Login
  • COUNTRY
    • ITALY
    • IBERIA
    • FRANCE
    • UK&IRELAND
    • BENELUX
    • DACH
    • SCANDINAVIA&BALTICS
  • PRIVATE EQUITY
  • VENTURE CAPITAL
  • PRIVATE DEBT
  • DISTRESSED ASSETS
  • REAL ESTATE
  • FINTECH
  • GREEN
  • PREMIUM
    • ItaHubHOT
      • ItaHub Legal
      • ItaHub Tax
      • ItaHub Trend
    • REPORT
    • INSIGHT VIEW
    • Private Data
Subscribe
  • COUNTRY
    • ITALY
    • IBERIA
    • FRANCE
    • UK&IRELAND
    • BENELUX
    • DACH
    • SCANDINAVIA&BALTICS
  • PRIVATE EQUITY
  • VENTURE CAPITAL
  • PRIVATE DEBT
  • DISTRESSED ASSETS
  • REAL ESTATE
  • FINTECH
  • GREEN
  • PREMIUM
    • ItaHubHOT
      • ItaHub Legal
      • ItaHub Tax
      • ItaHub Trend
    • REPORT
    • INSIGHT VIEW
    • Private Data
Home GREEN

evroc reveals plans to build Europe’s first sovereign hyperscale cloud

Cisionby Cision
June 6, 2023
Reading Time: 4 mins read
in GREEN, SCANDINAVIA&BALTICS, VENTURE CAPITAL
Share on FacebookShare on Twitter
  • Backed by global technology investor EQT Ventures and impact investor Norrsken VC, evroc recently closed a seed funding round to build its launch team.
  • In 2024, evroc will establish a pilot center in the Stockholm region, while initiating a site selection process to determine the location of its first hyperscale data centers and additional software development hubs.
  • evroc plans to build eight hyperscale centers and three development hubs across Europe by 2028, employing over 3,000 people in total.

STOCKHOLM, June 6, 2023 /PRNewswire/ — Founded in 2022 to power a digital Europe, today evroc presents its plans to build Europe’s first secure, sovereign, and sustainable hyperscale cloud, putting an end to the foreign dominance of the European cloud market.

Rendition of evroc's architecturally designed hyperscale data center

Backed by global technology investor EQT Ventures and impact investor Norrsken VC, evroc recently closed a seed funding round to build its launch team. The company now plans to raise and invest €3 billion over the next couple of years to develop and operate two hyperscale data centers – one in Northern Europe and one in Southern Europe. By 2028, evroc’s aims to establish eight hyperscale data centers, as well as three software development hubs, across the continent, employing over 3,000 people in total.

“The lack of home-grown hyperscale cloud providers poses a serious challenge for Europe. Not only because our citizens’ data is placed under foreign ownership by companies operating under laws that conflict with European privacy legislation. It is also a real threat to our long-term competitiveness in a digital world where others are advancing much faster. Europe’s digital economy must be built on a European foundation,” says Mattias Åström, founder and CEO, evroc.

Cloud services play a key role in critical digital infrastructure. Between 2017 and 2022, the European cloud market grew five-fold. During the same time, the market share of European cloud players fell from 27% to 13%.

A competitive European hyperscale cloud is critical to enable the continent’s digital economy, keeping investments, job creation, technology development and intellectual property rights within its borders. It will also give Europe digital sovereignty that is compliant with European privacy legislation, settling a long standing problem.

“evroc has spotted an exciting opportunity to make Europe a leader in cloud technologies by bringing together the continent’s brightest minds, ambitious thinkers, and experienced entrepreneurs. We believe the next generation of European tech companies will be built on evroc’s cloud services,” says Ted Persson, Partner at EQT Ventures.   

Data centers have until now had a significant environmental footprint, consuming about three percent of the global electricity supply, and accounting for two percent of global greenhouse gas emissions.

evroc will build the world’s cleanest cloud by leveraging next-generation energy-efficient technologies to maximize its sustainability impact, including a unique and proprietary eco load balancer solution. The eco load balancer enables data to flow seamlessly and securely between evroc’s data centers based on where renewable energy is most readily available and affordable.

“The data center industry is on par with the airline industry in terms of greenhouse gas emissions. Data processing will continue to grow substantially over the coming decades, causing significant emissions and damage to our climate, unless we change direction. evroc’s holistic strategy for clean energy usage, combined with the implementation of state-of-the-art energy efficiency technology, could set the standard for the entire industry,” says Tove Larsson, Partner at Norrsken VC. 

This year evroc is piloting its software stack together with selected key customers across government, military, financial services and automotive sectors. evroc’s offering includes a full suite of cloud services, integration to third party applications and a best-in-class developer experience.   

In 2024, evroc will establish a pilot center in the Stockholm region, while initiating a site selection process to determine the location of the first two European hyperscale centers and additional software development hubs.

“Status quo is not an option for Europe. We want to build a better cloud that is secure, sustainable, and sovereign, and with that, power Europe’s digital economy,” says Mattias Åström.

About evroc

Founded to power a digital Europe, evroc is building a secure, sovereign, and sustainable hyperscale cloud with best-in-class services and developer experience. The company is headquartered in Stockholm, Sweden, with a development office in Sophia-Antipolis, France. By 2028, evroc will operate eight hyperscale data centers and three software development hubs across Europe.

The CEO and founder, Mattias Åström, spent more than a decade building technology companies in the United States and is now returning to his native Sweden. Prior to evroc, Mattias founded five businesses, with energy efficiency at the core, that were acquired by Apple, Nokia, Murata and Schneider Electric.

Photo – https://mma.prnewswire.com/media/2091831/evroc.jpg
Logo – https://mma.prnewswire.com/media/2091761/evroc_Logo.jpg

Contact:
press@evroc.com

evroc Logo

 

Cision View original content:https://www.prnewswire.co.uk/news-releases/evroc-reveals-plans-to-build-europes-first-sovereign-hyperscale-cloud-301841271.html

Read the orginal article: undefined

Gateways to Italy

Gateways to Italy – Offer your services to funds and investors willing to explore opportunities in Italy. Become a partner!

Gateways to Italy – Offer your services to funds and investors willing to explore opportunities in Italy. Become a partner!

by Partner
June 6, 2023

Sign up to our newsletter

SIGN UP

Related Posts

UK&IRELAND

Head of NATO tech accelerator departs amid broader tech turnover

June 14, 2025
FRANCE

The 10 fastest-growing French startups

June 14, 2025
FRANCE

Wandercraft raises $75m and expands into humanoid robots with Renault partnership

June 14, 2025

ItaHub

Crypto-assets supervision rules in Italy, Banca d’Italia will supervise payment systems and Consob on market abuse

Crypto-assets supervision rules in Italy, Banca d’Italia will supervise payment systems and Consob on market abuse

November 4, 2024
Italy’s SMEs export toward 260 bn euros in 2025

Italy’s SMEs export toward 260 bn euros in 2025

September 9, 2024
With two months to go before the NPL Directive, in Italy the securitization rebus is still to be unraveled

With two months to go before the NPL Directive, in Italy the securitization rebus is still to be unraveled

April 23, 2024
EU’s AI Act, like previous rules on technology,  looks more defensive than investment-oriented

EU’s AI Act, like previous rules on technology, looks more defensive than investment-oriented

January 9, 2024

Co-sponsor

Premium

Funds vying for management consulting firm BIP, a CVC portfolio company. All deals in the sector

Funds vying for management consulting firm BIP, a CVC portfolio company. All deals in the sector

March 6, 2025
Private equity, Italy 2024 closes with 588 deals as for investments and divestments from 549 in 2023. Here is the new BeBeez’s report

Private equity, Italy 2024 closes with 588 deals as for investments and divestments from 549 in 2023. Here is the new BeBeez’s report

February 10, 2025
Crypto-assets supervision rules in Italy, Banca d’Italia will supervise payment systems and Consob on market abuse

Crypto-assets supervision rules in Italy, Banca d’Italia will supervise payment systems and Consob on market abuse

November 4, 2024
Venture capital investments top €1.3bn in 208 rounds as of Sep30  in Italy. They were €1.5 in all 2023. The new BeBeez Report

Venture capital investments top €1.3bn in 208 rounds as of Sep30 in Italy. They were €1.5 in all 2023. The new BeBeez Report

October 28, 2024
Next Post

IBM to Build its First European Quantum Data Center to Serve Expanding Ecosystem

ASSA ABLOY receives clearance from Mexico for the acquisition of HHI

EdiBeez srl

C.so Italia 22 - 20122 - Milano
C.F. | P.IVA 09375120962
Aut. Trib. Milano n. 102
del 3 aprile 2013

COUNTRY

Italy
Iberia
France
UK&Ireland
Benelux
DACH
Scandinavia&Baltics

CATEGORY

Private Equity
Venture Capital
Private Debt
Distressed Assets
Real Estate
Fintech
Green

PREMIUM

ItaHUB
Legal
Tax
Trend
Report
Insight view

WHO WE ARE

About Us
Media Partnerships
Contact

INFORMATION

Privacy Policy
Terms&Conditions
Cookie Police

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • COUNTRY
    • ITALY
    • IBERIA
    • FRANCE
    • UK&IRELAND
    • BENELUX
    • DACH
    • SCANDINAVIA&BALTICS
  • PRIVATE EQUITY
  • VENTURE CAPITAL
  • PRIVATE DEBT
  • DISTRESSED ASSETS
  • REAL ESTATE
  • FINTECH
  • GREEN
  • PREMIUM
    • ItaHub
      • ItaHub Legal
      • ItaHub Tax
      • ItaHub Trend
    • REPORT
    • INSIGHT VIEW
    • Private Data
Subscribe
  • Login
  • Cart