Sweden: Evroc aims to raise $3.2 billion for tw hyperscale data centers

Jun 08, 2023 | Posted by Abdul-Rahman Oladimeji

A new Swedish startup called Evroc intends to open several large data centers throughout Europe. In its pre-seed round, the company raised $13.9 million, but it hopes to raise $3.2 billion in the following two years to build and run two hyperscale data centers in Europe. Long-term, Evroc aims to establish 8 data facilities and three software nodes across Europe by 2028 while employing 3,000 people.

Only 13% of the computer storage in Europe is provided by European companies, which the company views as a significant problem. In light of the European Commission's intention to use cloud computing for its data plans, digital strategy, industrial strategy, EU Recovery Plan, and European Green Deal, they identified a market opportunity for a locally-owned hyperscaler.

Evroc plans to construct more sustainable data centers and aspires to be the world's greenest cloud provider. Each data center will contain one hundred thousand servers but consume only one-tenth as much energy as other local data centers. In addition to renderings of cylindrical facilities, the company has not disclosed any additional information regarding its strategy. The company intends to open a pilot data center in Stockholm, then build two hyperscale facilities in the north and south of Europe. Once operational, non-urgent data can be sent to facilities nearer to renewable energy sources.