Swedish startup evroc plans to raise 3 billion euros for ‘hyperscale’ data centres

STOCKHOLM: Swedish startup evroc, which is backed by EQT Ventures and Norrsken VC, plans to raise and invest 3 billion euros ($3.2 billion) over the next couple of years to start operating two “hyperscale” data centres.

Demand for data is growing rapidly across Europe but most cloud services are offered by a handful of American companies known as hyperscalers or operators of large-scale data centres.

Led by serial entrepreneur Mattias Astrom, evroc plans to keep the data within Europe. It has raised a seed round, and plans to build eight hyperscale data centres by 2028, three software development hubs and employ over 3,000 people.