Swedish cloud and AI infrastructure company evroc has closed a Series A funding round exceeding €50 million. The funding marks the largest Series A round in the Nordics within the tech sector.
The funding round was led by international investment firm blisce/, alongside transatlantic investor Giant Ventures and existing backers EQT Ventures and Norrsken VC.
The new capital will boost evroc’s expansion plans, including the launch of an AI factory in Mougins, France, and the acquisition of land for a flagship AI data centre in Stockholm, Sweden.
It is hoped that the projects will address the region's reliance on foreign technology providers.
Alexandre Mars, founder & CEO of blisce/, and newly appointed board member at evroc, commented: “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.”
Cameron McLain, co-founder & managing partner at Giant Ventures, said: “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.”
Currently, cloud adoption in Europe stands at 41%, significantly lagging behind the United States' 78% adoption rate. With AI predominantly deployed via cloud platforms, Europe risks further widening the technological and economic divide.
Evroc’s founder & CEO, Mattias Åström, commented that the financing will pave the way for their next growth spurt.
“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 centre in Stockholm, this financing round has been instrumental in laying the foundation for our next phase of growth.
"Support from EQT Ventures, Norrsken VC, blisce/, and Giant Ventures will be essential to drive our European expansion.”
RELATED STORIES
Lessons learned from sustainable infrastructure in the Nordics
Verne expands Nordic presence with sustainable Mäntsälä facility
