Cubbit's $12.5M Funding Injection: A Game-Changer in Cloud Storage Evolution
July 18, 2024, 3:50 pm
Location: Italy, Emilia-Romagna, Bologna
Employees: 11-50
Founded date: 2016
Total raised: $20.8M
In a groundbreaking move, Cubbit, the Bologna-based geo-distributed cloud storage enabler, has secured a substantial $12.5 million in funding. This financial boost, led by prominent investors LocalGlobe and ETF Partners, marks a pivotal moment in Cubbit's journey towards revolutionizing the cloud storage landscape.
The essence of Cubbit's mission lies in empowering European service providers and companies to reclaim full independence and control over their data, infrastructures, and costs. With the exponential growth of data production, projected to reach a staggering 180 billion Terabytes by 2025, and a significant portion of this data being generated and processed at the edge, the challenges of data orchestration complexity, cyber-attacks, sovereignty risks, and escalating costs have become more pronounced than ever.
Cubbit's innovative approach addresses these pressing challenges by enabling organizations to swiftly establish their own geo-distributed S3 cloud storage networks, seamlessly integrating with diverse infrastructure and policy frameworks, from hybrid cloud setups to edge computing environments. Through its proprietary DS3 Composer technology, Cubbit offers a unique blend of data orchestration, deep tech data fragmentation, and geo-distribution capabilities, resulting in a sovereign, hyper-resilient, flexible, and highly cost-efficient cloud storage service that prioritizes the protection of European data assets.
The company's mantra, "Your Cloud. Your Rules. Anywhere," encapsulates its commitment to providing clients with the autonomy and control they need to navigate the evolving digital landscape with confidence. Notably, Cubbit's solution also delivers the essential data resiliency SLAs while utilizing 25-50% less disk space and IT resources compared to traditional cloud storage offerings, thereby reducing the carbon footprint associated with cloud operations.
The recent funding round, co-led by industry stalwarts LocalGlobe and ETF Partners, has attracted a diverse group of investors, including Verve Ventures, 2100 Ventures, Hydra (a holding of Datalogic), Growth Engine, Eurenergia, and Moonstone. Noteworthy returning investors such as Azimut Libera Impresa SGR, CDP Venture Capital SGR, and Primo Ventures, alongside individual backers like Fabio Fregi and Joe Zadeh, further underscore the confidence in Cubbit's vision and technological prowess.
Looking ahead, Cubbit's strategic focus on expanding its footprint across Europe, with initial emphasis on the DACH, French-speaking regions, and the United Kingdom, signals a new phase of growth and innovation. The company's strong partnerships with industry leaders such as HPE, Equinix, and Exclusive Networks, coupled with its growing roster of over 350 business customers, position Cubbit as a formidable player in the cloud storage arena.
Stefano Onofri, Co-CEO and Co-founder of Cubbit, expressed his enthusiasm for the future, stating, "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 such as Leonardo, HPE, and Equinix - now it's time to take our expansion to the next level."
In conclusion, Cubbit's $12.5 million funding infusion represents more than just a financial milestone; it signifies a bold step towards reshaping the cloud storage landscape, fostering data sovereignty, environmental sustainability, and technological innovation in equal measure. As the digital revolution continues to unfold, Cubbit stands at the forefront, poised to lead the charge towards a more secure, resilient, and cost-effective cloud storage future.
The essence of Cubbit's mission lies in empowering European service providers and companies to reclaim full independence and control over their data, infrastructures, and costs. With the exponential growth of data production, projected to reach a staggering 180 billion Terabytes by 2025, and a significant portion of this data being generated and processed at the edge, the challenges of data orchestration complexity, cyber-attacks, sovereignty risks, and escalating costs have become more pronounced than ever.
Cubbit's innovative approach addresses these pressing challenges by enabling organizations to swiftly establish their own geo-distributed S3 cloud storage networks, seamlessly integrating with diverse infrastructure and policy frameworks, from hybrid cloud setups to edge computing environments. Through its proprietary DS3 Composer technology, Cubbit offers a unique blend of data orchestration, deep tech data fragmentation, and geo-distribution capabilities, resulting in a sovereign, hyper-resilient, flexible, and highly cost-efficient cloud storage service that prioritizes the protection of European data assets.
The company's mantra, "Your Cloud. Your Rules. Anywhere," encapsulates its commitment to providing clients with the autonomy and control they need to navigate the evolving digital landscape with confidence. Notably, Cubbit's solution also delivers the essential data resiliency SLAs while utilizing 25-50% less disk space and IT resources compared to traditional cloud storage offerings, thereby reducing the carbon footprint associated with cloud operations.
The recent funding round, co-led by industry stalwarts LocalGlobe and ETF Partners, has attracted a diverse group of investors, including Verve Ventures, 2100 Ventures, Hydra (a holding of Datalogic), Growth Engine, Eurenergia, and Moonstone. Noteworthy returning investors such as Azimut Libera Impresa SGR, CDP Venture Capital SGR, and Primo Ventures, alongside individual backers like Fabio Fregi and Joe Zadeh, further underscore the confidence in Cubbit's vision and technological prowess.
Looking ahead, Cubbit's strategic focus on expanding its footprint across Europe, with initial emphasis on the DACH, French-speaking regions, and the United Kingdom, signals a new phase of growth and innovation. The company's strong partnerships with industry leaders such as HPE, Equinix, and Exclusive Networks, coupled with its growing roster of over 350 business customers, position Cubbit as a formidable player in the cloud storage arena.
Stefano Onofri, Co-CEO and Co-founder of Cubbit, expressed his enthusiasm for the future, stating, "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 such as Leonardo, HPE, and Equinix - now it's time to take our expansion to the next level."
In conclusion, Cubbit's $12.5 million funding infusion represents more than just a financial milestone; it signifies a bold step towards reshaping the cloud storage landscape, fostering data sovereignty, environmental sustainability, and technological innovation in equal measure. As the digital revolution continues to unfold, Cubbit stands at the forefront, poised to lead the charge towards a more secure, resilient, and cost-effective cloud storage future.