Cubbit raises $12.5M for geo-distributed cloud storage solution

Geo-distributed cloud storage enabler Cubbit has raised $12.5 million in funding. 

More than 180 billion Terabytes of data will be produced in 2025, and 75 per cent will be created and processed at the edge. This explosive growth raises data orchestration complexity, cyber-attacks, sovereignty risks, and costs. AI and media creation compound this out-of-control growth, which is becoming an ever-growing concern regarding geopolitical scenarios and protecting sensitive data. 

Italian company Cubbit eradicates these challenges by enabling organisations to create, in just minutes, their own geo-distributed S3 cloud storage that can slot into any infrastructure and policy framework - from hybrid cloud to the edge. With its DS3 Composer, Cubbit combines a proprietary data orchestration platform, deep tech data fragmentation, and geo-distribution technology: a sovereign, hyper-resilient, flexible, and highly cost-efficient cloud storage service that protects European data. The Company summarises its approach with: "Your Cloud. Your Rules. Anywhere." 

Cubbit also guarantees the required data resiliency SLAs using 25/50 per cent less disk space and IT resources than traditional cloud storage, minimising their cloud carbon footprint. 

The round was co-led by LocalGlobe and ETF Partners and included Verve Ventures, 2100 Ventures, Hydra (a holding of Datalogic), Growth Engine, Eurenergia, and Moonstone. Azimut Libera Impresa SGR – Azimut Digitech Fund, CDP Venture Capital SGR through its Fondo Evoluzione, and Primo Ventures. Individual investors include Fabio Fregi, former Italy Country Manager of Google Cloud, and Joe Zadeh, former VP of Product at Airbnb. 

"Having top-tier international VCs invest in Cubbit's geo-distributed technology is a major endorsement. Over the past few years, we have grown massively and closed key partnerships and agreements with international players such as Leonardo, HPE, and Equinix - now it's time to take our expansion to the next level," said Stefano Onofri, Co-CEO and Co-founder of Cubbit. 

Patrick Sheehan, Managing Partner and Founder of ETF Partners said:

"We're witnessing a double-edged sword in the tech revolution: cloud storage is powering unprecedented innovation but at a steep environmental cost. 

As data centres use more and more energy, their carbon footprint continues to skyrocket. Cubbit's Composer technology responds to this immediate challenge." 

Ferdinando Sigona, Partner of LocalGlobe, said,

"Data generation is already one of today's steepest exponential curves, and the generative AI wave is only poised to accelerate this further.

As a result, companies of all types and sizes face escalating complexity and cost. At the same time, the geopolitical environment is driving investment into AI sovereignty. We think the need for control will extend the stack to data storage. 

Cubbit's cloud storage software elegantly addresses all of these needs." 

The new funding will enable Cubbit to grow CAPEX-free in Europe, initially focusing on the DACH and French-speaking regions and the United Kingdom. Part of the funding will further consolidate the application ecosystem around Cubbit's enabling technology to support vertical projects in various industries, including aerospace, defence, cybersecurity, healthcare, and public administration.