evroc announced that it recently closed one of Europe’s largest Series A financing rounds in the technology sector to fuel the growth of Europe’s sovereign hyperscale cloud and AI infrastructure. The financing, which was completed in 2024, exceeded €50 million, making it the largest Series A round in the Nordics in the technology sector.
As the company enters a transformative year, this round will accelerate key milestones, including the launch of an AI factory in Mougins, France, and the acquisition of land for a flagship AI data center in Stockholm, Sweden. By securing this backing, evroc is advancing its mission to drive European digital sovereignty and growth.
The round was led by top international investment firms committed to European technology and sovereignty, with lead investor blisce/ having strong roots in France alongside existing Swedish investors EQT Ventures and Norrsken VC. Today, evroc can also confirm the participation of UK-based Giant Ventures, further broadening the company’s strong base of European backers.
Considering today’s announcement, the newly appointed board member Alexandre Mars, Founder & CEO of blisce/, emphasized the urgency of Europe's technological independence stating: “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 & 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.”
Boosting European Competitiveness Cloud adoption in Europe lags, with a penetration rate of just 41% compared to 78% 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. With transatlantic relations entering a new paradigm, Europe’s push for digital autonomy has never been more critical.
Mattias Åström, Founder & 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. Support from existing investors EQT Ventures and Norrsken VC, together with our new investors blisce/ and Giant Ventures will be essential to drive our European expansion. Together, we aim to build a secure, sovereign, and sustainable cloud and AI platform for Europe, and thereby empowering the next generation of EU startups, fueling job creation, and driving economic growth.”
