European AI hyperscaler Nscale raises $155M in Series A funding to keep up with demand
AI hyperscaler Nscale has announced that it has raised $155 million in its Series A funding round led by Sandton Capital Partners to fuel its ambitious growth plans across Europe and North America.
Nscale announced Monday it raised $155 million in an oversubscribed Series A funding round led by Sandton Capital Partners, in which Kestrel 0x1, Blue Sky Capital Managers Ltd, and Florence Capital were participants. Nscale stressed that the oversubscribed round reflects investors' confidence in Nscale's roadmap to become a leading AI hyperscaler in Europe and North America. Rael Nurick, Co-Founder at Sandton Capital Partners, commented: "With a notable founder track record, established industry partnerships, and a unique vertically integrated approach, Nscale is building the hyperscale AI platform to power enterprise AI at scale."
The raised funds will boost Nscale's expansion across Europe and North America. Remarkably, Nscale has grown its pipeline of greenfield data centers across Europe and North America from 300MW to 1.3GW, and the company is planning a further 120MW expansion for 2025. The new sites will be designed and built from scratch to leverage the latest advancements in server cooling technologies to deliver optimal efficiency while reducing environmental impact. These plans will enable Nscale to continue delivering large-scale AI infrastructure to organizations of all sizes, customized to meet their specific needs. Nscale also plans to launch its public cloud service in Q1 2025, delivering a flexible environment to support training and inference solutions geared towards developers.
The Series A round is only the most recent milestone in Nscale's journey. Jointly with UAE-Open Innovation AI, Nscale plans to deploy over 30,000 GPUs in three years and develop a go-to-market strategy to deliver AI end-to-end services to global enterprise customers. Moreover, the Series A funding round follows an equally successful $30 million seed funding round closed just a year ago, in December 2023. Finally, Nscale’s Svartisen Cluster appeared in the 2024 edition of the Top500, officially establishing it as one of the world's most powerful supercomputing systems.
