{"id":23571,"date":"2024-04-09T15:26:10","date_gmt":"2024-04-09T13:26:10","guid":{"rendered":"https:\/\/ggba.swiss\/?p=23571"},"modified":"2024-04-09T15:26:11","modified_gmt":"2024-04-09T13:26:11","slug":"genevas-hive-secures-eur-12-million-for-its-innovative-distributed-cloud-computing-model","status":"publish","type":"post","link":"https:\/\/ggba.swiss\/en\/genevas-hive-secures-eur-12-million-for-its-innovative-distributed-cloud-computing-model\/","title":{"rendered":"Geneva\u2019s Hive secures EUR 12 million for its innovative distributed cloud computing model"},"content":{"rendered":"\n<p>Headquartered in Geneva, <a href=\"https:\/\/www.hivenet.com\/\">Hive<\/a> has successfully raised EUR 12 million in a Series A funding round led by <a href=\"https:\/\/scventures.io\/\">SC Ventures<\/a>, the innovation, fintech investment, and ventures arm of Standard Chartered. The round also saw participation from <a href=\"https:\/\/www.oneragtime.com\/\">OneRagtime<\/a>, a French venture capital fund that previously led Hive\u2019s Seed round, alongside a group of private investors. Since its inception in October 2023, Hive has attracted over 25,000 active users and contributors across 147 countries, marking a new era in cloud computing access and sustainability.<\/p>\n\n\n\n<p>Hive is pioneering a shift from traditional, centralized cloud infrastructures that rely on costly physical servers to a distributed model that leverages unused computing capacities of individual devices. This innovative approach not only enables businesses to manage cloud expenses more efficiently but also reduces dependence on a few dominant cloud providers and significantly cuts down on cloud energy consumption. With data centers currently accounting for up to 3% of global electricity consumption\u2014a figure expected to rise to 4% by 2030\u2014Hive\u2019s model presents a timely solution to the pressing challenges of environmental impact and accessibility in cloud computing.<\/p>\n\n\n\n<p>In the company\u2019s press release, David Gurl\u00e9, Hive&#8217;s founder, emphasized the company\u2019s commitment to democratizing cloud access, fostering innovation, and promoting a greener, more resilient, and equitable cloud solution. Hive\u2019s community-driven model capitalizes on the vast computing power lying dormant in billions of connected devices, creating a network that is not only more sustainable but also more secure and flexible.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\">Making computing power and storage more accessible and efficient<\/h4>\n\n\n\n<p>Hive\u2019s platform, encompassing hiveDisk for file storage and hiveNet for harnessing unused hard drive capacity, is complemented by hiveCompute, which allows companies to tackle intensive workloads like GenAI inference, video processing, and 3D modeling with enhanced computing power. Additionally, Hive offers the option for companies to establish their own private hiveNets, granting IT managers complete control over networked devices.<\/p>\n\n\n\n<p>SC Ventures and OneRagtime, key investors in Hive, have expressed their strong endorsement of Hive\u2019s distributed cloud technology, recognizing its capability to enhance the accessibility and efficiency of computing power and storage. This support highlights the broader industry acknowledgment of Hive\u2019s approach as a significant innovation in cloud technology, aimed at addressing the increasing need for computing resources \u2014 notably for AI applications \u2014 alongside challenges related to costs, security, and environmental impact.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Cloud computing specialist Hive has announced the successful completion of a EUR 12 million funding round led by SC Ventures. <\/p>\n","protected":false},"author":6,"featured_media":23572,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"mc4wp_mailchimp_campaign":[],"footnotes":""},"categories":[839],"tags":[980,982,894,974],"class_list":["post-23571","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-tech-en","tag-big-data-en","tag-cloud-computing","tag-financing","tag-ict"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Hive secures EUR 12M for its distributed cloud computing model<\/title>\n<meta name=\"description\" content=\"Cloud computing specialist Hive has announced the successful completion of a EUR 12 million funding round led by SC Ventures.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, 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