Hive, a start-up specializing in distributed cloud computing solutions using the unused resources of its users' devices, announced on March 27 that it had raised 12 million euros in series A. The round of funding was led by the capital -Singapore-based venturer SC Ventures and French investment firm OneRagtime. The latter also led the start-up's seed fundraising, in June 2022, to the tune of 7 million euros.
Share unused resources, then take advantage of available storage
The solution proposed by Hive consists of exploiting the unused capacity of its users' devices around the world, to convert it into a “supercomputer”, via peer-to-peer technology. 10 billion devices are connected to the Internet every day. Personal computers would, on the other hand, be used at 5% of their capacities, a rate which rises to 10% in data centers. “Our idea is to create software that allows us to invite users to share these resources, either in exchange for an equivalent service with us, or in exchange for money, by paying users for the resources that we rent”explains David Gurlé, founder and director of Hive, also founder of secure messaging Symphony Communications.
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In detail, the distributed cloud is offered via the C2B “HiveNet” offer, formed from the storage capacities available on user devices. The start-up is mutually developing a B2C offer, called “HiveDisk”, where users will have access to the cloud, before consuming the storage. “By contributing, you will be able to reduce your subscription bill, or recover money if you consume less than you receive”, specifies the CEO of Hive. Currently, the young company has 28,000 customers in 150 different countries.
A four-year partnership with Inria
The start-up also highlights the ecological side of the offer, to the extent that there is no excess consumption ofelectricity compared to what a standard computer consumes. “We also don't buy new computers to create services, unlike hyperscalerscontinues David Gurlé. We estimate we have access to computers nine hours a day, so we need global distribution.”
In November 2022, five months after its creation, Hive signed a four-year strategic partnership with the National Institute for Research in Digital Sciences and Technologies (Inria), to accelerate its cloud offering for individuals, but also launch it to businesses. The fundraising thus carried out should make it possible to finalize this offer to companies. With this solution, called “HiveCompute”, companies should be able to manage all computing functions, from training generative AI models to inference, but also video processing and 3D modeling.
Target start-ups and large companies
Hive intends to target start-ups who wish to have access to a cloud offering at a lower cost. “We are at least 20% cheaper than equivalent services from hyperscalers”, says David Gurlé. The young growth is also banking on large structures, which have a significant IT base. It therefore wishes to offer them a private cloud offer, within their IT assets.
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The start-up wants to reach 100,000 customers by the end of the year, and around twenty partner companies. It also plans to double its workforce to reach 80 people, its teams being distributed between France, notably in Cannes (Provence-Alpes-Côte d'Azur) where it was founded, Switzerland, where it has its legal headquarters, other European countries and Asia.
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