a year ago

Cubbit Raises $12.5M to Expand Geo-Distributed Cloud Storage Solution

  • Cubbit, an Italian company that provides geo-distributed cloud storage solutions, has raised $12.5 million in funding

  • The round was co-led by LocalGlobe and ETF Partners and included Verve Ventures, 2100 Ventures, Hydra, Growth Engine, Eurenergia, and Moonstone

  • Azimut Libera Impresa SGR – Azimut Digitech Fund, CDP Venture Capital SGR through its Fondo Evoluzione, and Primo Ventures also participated

  • The new funding will enable Cubbit to grow CAPEX-free in Europe, initially focusing on the DACH and French-speaking regions and the United Kingdom.

      • ProblemTechnology Infrastructure

      "Storing and processing data is becoming increasingly expensive and complex as the amount of data generated continues to grow at an exponential rate. This is especially true for sensitive data which needs to be protected from cyberattacks and geopolitical risks. Furthermore, traditional cloud storage providers have a significant carbon footprint due to the energy consumption of their data centers."

      Solution

      "Cubbit is a geo-distributed cloud storage solution that allows organizations to create their own sovereign cloud storage that can be deployed anywhere, including on-premises, at the edge, or in a hybrid cloud environment. Cubbit's technology is based on data fragmentation and geo-distribution, which makes it highly resilient and secure. It also uses significantly less disk space and IT resources than traditional cloud storage, making it more cost-effective and environmentally friendly."

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