Cloud adoption in Europe lags significantly, with only 41% penetration compared to 78% in the United States, widening Europe’s productivity gap. As AI deployment primarily occurs in the cloud, this gap threatens to increase the technological and economic divide between Europe and the US. Europe’s need for digital autonomy is paramount in this era of shifting transatlantic relations. Evroc addresses these challenges with its sovereign cloud solution, ensuring data storage and processing within EU borders while maintaining compliance with GDPR and other European regulations.
To accelerate the development of Europe’s sovereign hyperscale cloud and AI infrastructure, evroc has secured €50 million in Series A funding. International investment firm blisce/ led the round, with participation from transatlantic investor Giant Ventures. Existing investors EQT Ventures and Norrsken VC also joined the round. Completed in 2024, this represents the largest Series A funding in the Nordic technology sector.
Today, the company confirmed the participation of UK-based Giant Ventures, strengthening its European investor base. This funding round will accelerate key initiatives as the company enters a transformative year, including launching an AI factory in Mougins, France, and acquiring land for a flagship AI data centre in Stockholm, Sweden.
Having previously raised €15 million in seed funding in June 2023, evroc’s total capital now reaches approximately $73.2 million. The company aims to secure €600 million through venture capital, debt, and grants for its flagship cloud centre near Stockholm’s Arlanda airport. Total funding now stands at $73.2M, though the valuation remains undisclosed.
How evroc drives European digital sovereignty and growth
evroc was founded by Mattias Åström in Stockholm in 2022. Åström is a serial entrepreneur who has built several successful tech companies, many of which were acquired by industry giants, including Apple, Nokia, Murata, and Schneider Electric.
The company was established to address Europe’s lack of hyperscale cloud providers and reduce dependence on foreign companies in the European cloud market. This foreign dominance challenges European companies, mainly due to GDPR privacy laws limiting US-based cloud services for sensitive data.
Evroc’s mission is to create Europe’s first secure, sovereign, and sustainable hyperscale cloud. The company provides cloud services that align with EU privacy regulations while strengthening Europe’s digital independence. By 2028, Evroc plans to operate eight hyperscale data centres and three software development hubs across Europe, creating over 3,000 jobs.
evroc’s eco load balancer that has it all
evroc delivers secure, sovereign, and sustainable cloud services to the European market as a hyperscale cloud provider. Its comprehensive technology suite includes computing, storage, networking, application integration, and developer tools — all engineered for optimal performance, security, and reliability.
The company’s innovative eco load balancer optimises data flow based on renewable energy availability, enhancing sustainability. This innovation addresses critical environmental challenges in the data centre industry, accounting for 3% of global electricity consumption and 2% of global greenhouse gas emissions.
Unlike competitors such as Aderian, PrivacyCloud, and Safespring, evroc emphasises European digital sovereignty and sustainability. The company ensures EU-based data storage and processing, maintaining compliance with European privacy laws like GDPR, which is crucial for organisations restricted from US-based cloud services. Its commitment to sustainability through energy-efficient technologies and renewable energy creates a distinct market position.
Boosting European competitiveness
Mattias Åström, Founder & CEO of evroc, commented: “2025 will be a formative year for evroc. With the recent announcements of our AI factory in France and our plans for an AI data centre in Stockholm, this financing round has been instrumental in laying the foundation for our next phase of growth. Support from existing investors EQT Ventures and Norrsken VC, together with our new investors blisce/ and Giant Ventures will be essential to drive our European expansion. Together, we aim to build a secure, sovereign, and sustainable cloud and AI platform for Europe, and thereby empowering the next generation of EU startups, fueling job creation, and driving economic growth.”
Alexandre Mars, Founder & CEO of blisce/, emphasized the urgency of Europe’s technological independence, stating: “For too long, the European cloud and AI landscape has been dominated by foreign players. It is time for a European champion to rise and challenge the status quo. With evroc, Europe is taking a decisive step toward securing its digital sovereignty, shielding the continent from rising geopolitical tensions.”
Additionally, Cameron McLain, Co-Founder and managing Partner at Giant Ventures, highlighted the impact of the investment, noting that “evroc provides European businesses with world-class cloud and AI services, delivering the performance and security required by Europe’s forward-thinking companies. We see evroc as a beacon for the continent’s next wave of growth and innovation.”
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