London-based NexGen Cloud has secured €41 million in a Series A funding round to accelerate the development of its AI-specific cloud infrastructure. The funding comes amid rising demand for sovereign compute capacity in Europe, particularly for generative AI applications.
Founded in 2020, NexGen Cloud provides infrastructure designed to support large-scale AI workloads. Its core offering includes Private Cloud environments for enterprise deployments and Hyperstack, an on-demand GPU platform tailored to startups and AI developers.
Since launching Hyperstack in 2023, the company reports €83.9 million in cumulative revenue across 2023 and 2024, a 380% growth in its AI cloud operations, and a 2,272% year-over-year increase in platform transactions. It currently operates thousands of GPUs with a reported utilization rate of 90%, serving over 10,000 users, including clients such as Red Hat, ArchiLabs, Ingenix.AI, and Shadeform.
NexGen Cloud positions itself as a European alternative to global hyperscalers, aiming to deliver high-performance, enterprise-grade AI infrastructure. Its platform supports virtualized compute environments, offers its own proprietary GPU allocation API, and plans to launch new services such as serverless inference and Fine-Tuning-as-a-Service for enterprise use cases.
The Series A round was backed by MOORE & MOORE INVESTMENT and DARMA CAPITAL, alongside several family offices and high-net-worth individuals. The funding will support infrastructure expansion across key European regions and the development of full-stack AI services for production-ready deployment.
NexGen Cloud raised €41 million in Series A funding from MOORE & MOORE INVESTMENT, DARMA CAPITAL, and family offices. The round values the company at €323 million post-money. With over 10,000 users, NexGen Cloud aims to establish itself as a key player in Europe’s AI infrastructure landscape.
