Italian startup Cubbit has successfully closed a $12.5 million investment round, marking a significant step forward in the evolution of cloud storage technology.
This funding positions Cubbit to expand its innovative geo-distributed cloud storage solutions across Europe, focusing on sustainability and data sovereignty.
Strategic Investment and Vision
The recent $12.5 million funding round for Cubbit was co-led by European investors LocalGlobe and ETF Partners. This strategic investment underscores a growing recognition of the startup’s potential to reshape the cloud storage landscape. With support from new investors like Verve Ventures and existing backers such as Azimut, Cubbit is set to accelerate its technological adoption across Europe.
The company aims to utilise this capital to expand CAPEX-free in Europe, focusing initially on the DACH, French-speaking regions, and the UK. This will enable further consolidation of their application ecosystem, supporting vertical projects across various sectors, including aerospace and cybersecurity.
Addressing Environmental Concerns
Patrick Sheehan, the Managing Partner and Founder of ETF Partners, highlighted that while cloud storage facilitates innovation, it also incurs a substantial environmental cost. Cubbit’s Composer technology offers a transformative solution, significantly reducing cloud storage emissions while maintaining progress.
Sheehan described Cubbit’s technology as a ‘game-changer’, stressing its importance in achieving sustainable digital infrastructure. “We have been very impressed by the vision of the Cubbit team,” he stated, noting the potential for profound impact.
The Challenge of Data Growth
Stefano Onofri, Co-CEO and Co-founder of Cubbit, notes the explosive growth in data production, projected to reach 180 billion terabytes by 2025. This surge exacerbates complexity, cyber-security threats, and sovereignty risks.
Cubbit tackles these by enabling organisations to swiftly set up geo-distributed cloud storage, enhancing data control and reducing costs. The approach mitigates risks associated with geopolitical shifts and the protection of sensitive information.
The rise of AI and media creation amplifies these challenges, necessitating solutions like Cubbit’s, which streamline data workflows and safeguard data sovereignty efficiently.
Innovative Technology and Partnerships
Founded by Stefano Onofri, Alessandro Cillario, Marco Moschettini, and Alessio Paccoia, Cubbit stands as a pioneer in geo-distributed cloud storage. It empowers service providers and enterprises to establish their own networks swiftly, aligning with internal policies and infrastructure strategies.
Cubbit’s hyper-resilient, cybersecure technology is adopted by over 350 European companies, including top-tier names like HPE and Equinix. Their proprietary platform ensures data sovereignty and resilience, crucial for industries demanding high security and efficiency.
Market Impact and Growth Potential
Cubbit’s cloud storage solution is positioned for substantial growth, backed by prominent investors and strategic partnerships. Alessandro Cillario, Co-CEO, stated Cubbit enables enterprises to maintain complete control over their data, simplifying workflows and cutting costs.
Ferdinando Sigona from LocalGlobe points out that the geopolitical climate fuels the demand for data control and sovereignty, areas where Cubbit excels. These strengths make Cubbit an attractive choice for sectors like defense and healthcare.
Future Prospects and Sustainability
Cubbit is set to expand rapidly across Europe, prioritising environmental sustainability and data sovereignty. The company’s emphasis on reducing environmental impact aligns with the growing demand for sustainable solutions in digital infrastructure.
Stefano Onofri emphasised the global need for a cloud enabler over a provider, particularly in orchestrating vast amounts of data. Cubbit’s ability to customise IT infrastructure strategies offers a novel pathway for future digital landscapes.
Key Considerations
Cubbit represents a significant shift in cloud storage, offering eco-friendly and efficient solutions for modern enterprises.
As industries increasingly seek sustainable and secure data management options, Cubbit’s innovative approach makes it a formidable force in the tech landscape.
Cubbit’s pioneering efforts in geo-distributed cloud storage present a robust solution to the challenges of data growth and sustainability. Backed by substantial investment and strategic partnerships, the startup is well-positioned to lead the charge towards more efficient, secure, and environmentally friendly digital landscapes.
