Cloud computing startup Hive has completed a Series A round of funding with $13 million.
Hive is planning to use the funding to further its plans for a decentralized cloud, using an
aggregation of individual devices' unused storage and computing.
The funding round was led by SC Ventures, the venture arm of Standard Chartered, and was
joined by participants including OneRagtime and other private backers.
Hive's plans for 'The Right Cloud' are hoped to help businesses plan more efficiently for cloud-
related expenses, improve server autonomy, and reduce energy usage by spreading workloads
over more separate devices.
Hive is based in Geneva, Switzerland. The company launched with its seed funding round which
raised €7m in 2022, led by Global Ventures and OneRagtime.
https://www.datacenterdynamics.com/en/news/hive-raises-13m-for-decentralized-cloud/
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