Hive, a Geneva, Switzerland-based distributed cloud provider, received €12M in Series A funding.
The round was led by from SC Ventures with participation from OneRagtime, and other private investors.
The company intends to use the funds to grow its team and global presence, with a focus on enterprise markets starting with startups and SMBs.
Founded by David Gurlé, Hive is bringing distributed cloud computing directly to the masses, providing everyone with the tools to innovate, secure their data, and contribute to a greener planet. Through hiveNet, hiveDisk, hiveCompute, and many other applications to come, the company is aggregating latent computing resources from a community of interconnected computers to provide the market with easy-to-implement solutions. Its Joint Development Partner (JDP) program develops innovations in the cloud computing landscape for businesses leveraging GenAI LLM computations.
Since October 2023, the company has amassed over 25,000 total active users and contributors from 147 countries, who store their files on hiveDisk and contribute a portion of their unused hard drive to hiveNet to effectively lower their subscription costs and build the distributed cloud. The contributed computing capacity to hiveNet also powers hiveCompute, allowing companies to manage workloads, such as run GenAI inference, video processing, and 3D modelling. HiveNet’s architecture provides access to additional CPU, GPU, or NPU when needed. Companies seeking more control could also build their own private hiveNet, where IT managers retain full control over the devices.
FinSEMs
29/03/2024