Observed Signal · Jul 16, 2024 · Funding · Source: Tech.eu · Impact: 2/5 · Sentiment: Positive
Cubbit raises $12.5M for geo-distributed cloud storage
Cubbit, an Italian provider of geo-distributed S3 cloud storage, has raised $12.5 million in a funding round co-led by LocalGlobe and ETF Partners. The investment includes participation from Verve Ventures, 2100 Ventures, Hydra, Growth Engine, Eurenergia, Moonstone, Azimut Libera Impresa SGR, CDP Venture Capital SGR, and Primo Ventures, along with angel investors such as Fabio Fregi and Joe Zadeh. Cubbit's DS3 Composer enables organizations to deploy sovereign, hyper-resilient, and cost-efficient cloud storage with data fragmentation and geo-distribution, significantly reducing disk space usage and carbon footprint. The new capital will fund European expansion, focusing on DACH, French-speaking regions, and the UK, while supporting vertical applications in aerospace, defense, cybersecurity, healthcare, and public administration. The company has also formed partnerships with Leonardo, HPE, and Equinix to accelerate growth.
This funding round supports a cloud storage provider addressing data sovereignty and cost efficiency, relevant to enterprises handling large data volumes, including advertising and AI workloads, but it is not a major platform change or industry-shifting event.
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Key Takeaways & Evidence Grounding
- Cubbit raised $12.5 million in funding.
- The round was co-led by LocalGlobe and ETF Partners.
- Investors include Verve Ventures, 2100 Ventures, Hydra, Growth Engine, Eurenergia, Moonstone, Azimut Libera Impresa SGR, CDP Venture Capital SGR, and Primo Ventures.
- Cubbit's DS3 Composer offers geo-distributed S3 storage with data fragmentation and orchestration.
- Funding will support European expansion (DACH, France, UK) and vertical projects in aerospace, defense, cybersecurity, healthcare, and public administration.
Connected Companies & Entities
4 Entities mapped“we have grown massively and closed key partnerships and agreements with international players such as Leonardo, HPE, and Equinix...”
“and Joe Zadeh, former VP of Product at Airbnb....”
“Individual investors include Fabio Fregi, former Italy Country Manager of Google Cloud...”
Ontology Mapping & Concepts
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