Evroc Secures $55M to Develop a Sovereign Hyperscale Cloud in Europe

Swedish startup Evroc has raised €50.6 million ($55 million) in Series A funding to develop a sovereign hyperscale cloud infrastructure in Europe. The move comes amid increasing calls for technological independence from U.S. firms. Evroc aims to establish eight data centers by 2028, with current locations in Stockholm and Paris and upcoming sites in Frankfurt, Sweden, and France. The company focuses on AI-compatible infrastructure, with high-density energy consumption and liquid cooling.

Evroc positions itself as an alternative to dominant U.S. cloud providers, emphasizing digital sovereignty. This follows geopolitical concerns over reliance on American infrastructure, highlighted by U.S. sanctions on the International Criminal Court and Elon Musk’s control over Starlink. European firms like FlexAI, DataCrunch, and Nebius are also investing in cloud solutions, but Evroc seeks to offer a full-scale alternative to AWS.

Evroc’s funding, backed by venture firms including Blisce and EQT Ventures, is part of a broader plan to raise billions. CEO Mattias Åström stresses that Europe’s challenge is not a lack of data centers but the absence of a robust cloud software ecosystem. The company plans additional funding in 2025, using a model similar to CoreWeave, which leverages hardware assets as collateral.