Sweden-based data centre start-up Evroc has raised more than €50m ($54.3m) in its Series A funding round.
Led by international investment firm Blisce/, the financing round was “completed” in 2024.
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The round also saw participation from transatlantic investor Giant Ventures and existing backers EQT Ventures and Norrsken VC.
The company plans to use the investment to accelerate the development of its hyperscale cloud and AI infrastructure in Europe.
Evroc founder and CEO Mattias Åström said: “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 existing investors EQT Ventures and Norrsken VC, together with our new investors Blisce/ and Giant Ventures will be essential to drive our European expansion.
“Together, we aim to build a secure, sovereign, and sustainable cloud and AI platform for Europe, and thereby empowering the next generation of EU startups, fuelling job creation, and driving economic growth.”
In February 2025, Evroc announced plans to establish the first AI factory in Mougins, France.
The planned 96MW hyperscale data centre is expected to have capacity of 50,000 GPUs. It is planned to be operational by 2025, with phased capacity expansions.
Furthermore, Evroc plans to secure two additional sites, each over 100MW, in France in 2025.
In 2023, Evroc said it set a goal to raise €3bn within two years to construct two hyperscale data centres in Europe.
By the end of this decade, Evroc envisions operating ten hyperscale data centres, employing more than 10,000 people.
