Evroc plans €600m raise to build Europe’s first hyperscale cloud in Stockholm
Just months after evroc pledged to raise €3bn within two years, the Swedish startup has revealed that it will build its flagship hyperscale cloud centre next to Stockholm’s international airport. The startup, which intends to create a green rival to Amazon Web Services (AWS), wants to provide the largest AI infrastructure in Europe to help clients that cannot use other US-based services because of security concerns. “We wanted to build a sovereign and sustainable cloud for Europe. Now we believe that we can build a better cloud [than AWS and Google]”, says evroc’s founder Mattias Åström. As a first step for its €3bn investment goal, evroc is now raising €600m in a combination of venture capital, debt and grants for its flagship data centre.