EQT Ventures, a venture capital company, and Norrsken VC, a venture capital firm, led a $14m pre-seed funding round in evroc, a cloud services company. "The lack of home-grown hyperscale cloud providers poses a serious challenge for Europe. Not only because our citizens' data is placed under foreign ownership by companies operating under laws that conflict with European privacy legislation. It is also a real threat to our long-term competitiveness in a digital world where others are advancing much faster. Europe's digital economy must be built on a European foundation," Mattias Åström, evroc Founder and CEO.