Nscale raises $155m in funding round to finance expansion

European AI cloud firm Nscale has raised $155 million in a new funding round led by Sandton Capital Partners with participation from Kestrel, Bluesky Asset Management, and Florence Capital and will fuel its growth plans across Europe and North America. Nscale said it is launching a public cloud service in Q1 2025 that will provide developers access to purpose-built inference and training solutions in a flexible development environment.

“The AI market is scaling rapidly, and so are we,” said Joshua Payne, CEO of Nscale. “With the support of our investors, we can now reach more customers globally with bespoke designed, sustainable, and cost-effective AI infrastructure that unlocks new AI capabilities, products, and services."

“We are excited to double down on our investment in Nscale with our lead investment in the Series A round,” said Rael Nurick, co-founder at Sandton Capital Partners. “With a notable founder track record, established industry partnerships, and a unique vertically integrated approach, Nscale is building the hyperscale AI platform to power enterprise AI at scale.”