Hyperscale cloud infrastructure startup evroc has raised the largest tech Series A in the Nordics to accelerate European growth. The funding exceeds €50 million and adds to over €63 million previously raised.
Giant Ventures led the funding which included existing backers EQT Ventures and Norrsken VC.
Cloud adoption in Europe lags, with a penetration rate of just 41 per cent compared to 78 per cent in the United States, contributing to Europe’s productivity gap.
With AI predominantly deployed in the cloud, failing to close this gap risks widening the technological and economic divide vis-a-vis the United States.
Mattias Åström, Founder and 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 center in Stockholm, this financing round has been instrumental in laying the foundation for our next phase of growth.”
This round will accelerate key milestones, including launching an AI factory in Mougins, France, and acquiring land for a flagship AI data centre in Stockholm, Sweden.
By securing this backing, evroc is advancing its mission to drive European digital sovereignty and growth.
Newly appointed board member Alexandre Mars, Founder & CEO of blisce/, stated:
“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.”
evroc plans to operate 10 hyperscale data centres, by 2030, employing more than 10,000 people across Europe.
Lead image: evroc. Photo: uncredited.
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