Cubbit, a geo-distributed cloud storage enabler, has closed a $12.5 million funding round.
The round was led by LocalGlobe and ETF Partners, with other new investors including Verve Ventures, 2100 Ventures, Hydra, Growth Engine, Eurenergia, and Moonstone.
Cubbit enables European organizations to create a geo-distributed S3 cloud storage that can slot into any infrastructure and policy framework, from hybrid cloud to the Edge.
The company also claims that it can meet the required SLAs while using 35 to 50 percent less disk space and IT resources compared to traditional cloud storage, thus reducing its carbon footprint
The new funding will help Cubbit to grow in Europe, initially focusing on the DACH (Germany, Austria and Switzerland), French-speaking regions, and the UK.
It will also be used to "accelerate" Cubbit's technology adoption and to help consolidate Cubbit's application ecosystem.
“Having top-tier international VCs invest in Cubbit's geo-distributed technology is a major endorsement. Over the past few years, we have grown massively and closed key partnerships and agreements with international players - now it's time to take our expansion to the next level,” said Stefano Onofri, co-CEO and co-founder of Cubbit.
Alessandro Cillario, co-CEO and co-founder of Cubbit, added: "Organizations need to keep full control over their data in order to simplify their workflows and reduce costs. Cubbit is here to help them achieve what was not possible before."
Cubbit has thus far been adopted by more than 350 European companies and partners including HPE, Equinix, Leonardo, and is serviced by Exclusive Networks.
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 centers use more and more energy, their carbon footprint continues to skyrocket. Cubbit's Composer technology responds to this immediate challenge. It is a game-changer that reduces cloud storage emissions without slowing progress."
