Cubbit raises $12.5M to revolutionise European cloud storage

Cubbit, the first geo-distributed cloud storage enabler announced the closing of its $12.5M funding round.

With this new funding, the company will enable European Service Providers and Companies to take back full independence and control over their data, infrastructures, and costs.

Data security challenges

More than 180 billion Terabytes of data will be produced in 2025, and 75% of this will be created and processed at the edge. This explosive growth raises data orchestration complexity, cyber-attacks, sovereignty risks, and costs.

AI and media creation are compounding this out-of-control growth, which is becoming an ever-growing concern when it comes to geopolitical scenarios and the protection of sensitive data. Cubbit eradicates these challenges by enabling organisations to create, in just minutes, their own geo-distributed S3 cloud storage that can slot into any infrastructure and policy framework - from hybrid cloud to the edge.

DS3 Composer

Cubbit also guarantees the required data resiliency SLAs using 25/50% less disk space

With its DS3 Composer, Cubbit combines a proprietary data orchestration platform, and its deep tech data fragmentation and geo-distribution technology: the result is a sovereign, hyper-resilient, flexible, and highly cost-efficient cloud storage service that protects European data. The Company summarises its approach with: “Your Cloud. Your Rules. Anywhere.”

Cubbit also guarantees the required data resiliency SLAs using 25/50% less disk space and IT resources compared to traditional cloud storage, therefore minimising their cloud carbon footprint.

New, returning, and individual investors

The round was co-led by LocalGlobe, EMEA’s number one VC investor according to the 2023 Dealroom report, and ETF Partners, Europe’s original sustainability investor. Among the new investors joining Cubbit are also Verve Ventures, 2100 Ventures, Hydra (holding of Datalogic), Growth Engine, Eurenergia and Moonstone. 

Azimut Libera Impresa SGR – Azimut Digitech Fund under the advisory of FNDX, CDP Venture Capital SGR through its Fondo Evoluzione, and Primo Ventures are returning investors. Individual investors include Fabio Fregi, former Italy Country Manager of Google Cloud, and Joe Zadeh, former VP of Product at Airbnb. 

Technology adoption with new funding

The new funding will enable Cubbit to grow CAPEX-free in Europe, initially focusing on the DACH

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

The round will also further accelerate Cubbit’s technology adoption, which is rapidly growing in Europe with more than 350 business customers, and is supported by several international partnerships, including HPE, Equinix, and Exclusive Networks.

Part of the funding will go towards further consolidation of the application ecosystem around Cubbit’s enabling technology to support vertical projects in various industries, including aerospace, defence, cybersecurity, healthcare, and public administration.

Geo-distributed technology

"Having top-tier international VCs invest in Cubbit's geo-distributed technology is a major endorsement," said Stefano Onofri, Co-CEO and Co-Founder of Cubbit.

He adds, "Over the past few years, we have grown massively and closed key partnerships and agreements with international players such as Leonardo, HPE, and Equinix - now it's time to take our expansion to the next level."

Cloud enabler

Alessandro Cillario, Co-CEO and Co-Founder of Cubbit, said "Enterprises worldwide are facing the daunting challenge of orchestrating massive amounts of data, or they will soon. They don’t need just another cloud provider; they require a cloud enabler that allows them to implement the custom IT infrastructure strategy that they are looking for."

He adds, "Organisations need to keep full control over their data to simplify their workflows and reduce costs. Cubbit is here to help them achieve what was not possible before."

Double-edged sword

Patrick Sheehan, Managing Partner and Founder of ETF Partners, said, "We're witnessing a double-edged sword in the tech revolution: cloud storage is powering unprecedented innovation but at a steep environmental cost. As data centres use more and more energy, their carbon footprint continues to skyrocket."

Reduces cloud storage emissions

Patrick Sheehan adds, "Cubbit's Composer technology responds to this immediate challenge. It is a game-changer that reduces cloud storage emissions without slowing progress."

He continues, "It's not just an incremental improvement; it's a leap towards sustainable digital infrastructure. We have been very impressed by the vision of the Cubbit team and what they have already achieved and are keen to help them continue to make a profound impact."

Cloud storage software

Ferdinando Sigona, Partner of LocalGlobe, said, "Data generation is already one of today’s steepest exponential curves, and the generative AI wave is only poised to accelerate this further. As a result, companies of all types and sizes are facing escalating complexity and cost."

Ferdinando Sigona adds, "At the same time, the geopolitical environment is driving investment into AI sovereignty, and we think that the need for control will extend down the stack, all the way to data storage. Cubbit’s cloud storage software elegantly addresses all of these needs, and we’re excited to back Stefano, Alessandro, and the whole team as they respond to the intense pull they’re experiencing from the market."