Estonian startup raises $1.4 million

Tallinn-based, a cloud computing startup, has raised $1.4 million in a seed round. The round was led by London-based early-stage venture capital firm Passion Capital with participation from Lemonade Stand and some angel investors, TechCrunch reports.

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Founded in 2017 by CTO Henry Vaaderpass and Tarmo Tael, is a high availability and decentralized cloud management platform based on machine learning algorithms for regional infrastructure service providers. The company is aimed to empower local IaaS providers and data centers worldwide by providing a platform and the network of its clients, competing in the global market. 

Henry Vaaderpass, CTO and co-founder, writes:

“We are fighting for local cloud providers to stay competitive against large IaaS by delivering IaaSS platform globally.”

The raised funds will help to expand internationally. The company plans to expand in South America and Southeast Asia.