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Swedish cloud startup seeks €3M


Jun 11, 2023 , ,
Шведский облачный стартап ищет 3 млн. евро, чтобы бросить вызов Amazon

The founder of the company wants to compete with Google.

By constructing eight significant data centers in the area, the Swedish cloud company Evroc AB, which is supported by EQT AB’s venture arm, hopes to challenge the dominance of US cloud providers in Europe.

According to its creator and CEO, Mattias Astrom, the firm plans to generate up to €3 billion to fund the project over the next five years using a combination of loans, private cash, and financial backing from the European Union.

Evroc plans to create cloud centers in Europe by 2028.

“Because US authorities can view data, Europe’s reliance on US cloud services exposes us to dangers. According to Astrom, we simply cannot rely on other governments when it comes to key infrastructure in the geopolitical environment of today.

The process of choosing locations for the company’s first two hyper scale cloud centers has already started. One will be in Sweden or Finland, while the other will probably be in France or Spain. In 2025, the first center will open, and by 2028, all eight will.

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