Evroc secures record-breaking €50m Series A funding to challenge US cloud dominance

Europe is still lagging behind when it comes to cloud adoption, but the landmark funding round for Evroc aims to accelerate the push for digital independence through sovereign hyperscale cloud.

"For too long, the European cloud and AI landscape has been dominated by foreign players," says newly appointed Evroc board member Alexandre Mars. "It is time for a European champion to rise and challenge the status quo."

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The money will help Evroc build a new AI factory in Mougins, France, and a flagship AI data center in Stockholm. These investments form part of the company's vision to operate 10 hyperscale data centres across Europe by 2030, potentially creating over 10,000 jobs.

"Together, we aim to build a secure, sovereign, and sustainable cloud and AI platform for Europe, thereby empowering the next generation of EU startups, fuelling job creation, and driving economic growth," says Mattias Åström, Evroc’s founder & CEO.

The financing round saw UK-based Giant Ventures join existing backers like EQT Ventures and Norrsken VC, signalling a growing European commitment to challenge US dominance in critical digital infrastructure.

The funding comes as Europe struggles with a glaring cloud adoption gap—just 41 percent compared to 78 percent in the US.

"We see Evroc as a beacon for the continent's next wave of growth and innovation," Giant Ventures' co-founder Cameron McLain says.