Prelz Oltramonti Family Office Invests in Cubbit’s €7M Funding Round

Prelz Oltramonti Single Family Office Invests in Cubbit's €7M Funding Round

Cubbit is an Italian distributed cloud storage provider. Now, the Bologna-based firm has raised €7M of funding. Amongst the investors is the single Italian family office of Massimo Prelz Oltramonti.

Cubbit: Distributed cloud service provider

The Italian startup was founded in 2016 by Stefano Onofri, Allesandro Cillario, Marco Moschettini and Lorenzo Posani. Instead of using centralized servers like most other cloud providers, Cubbit relies on distributed data centers that are already available. Thereby, Cubbit guarantees “privacy by design” and reduces CO2 emissions. So far, the company has rolled out its services to more than 3,500 customers in more than 70 countries.

Prelz Oltramonti Single Family Office as investor

In total, Cubbit raised €7M. Thereof, €3.5M in equity, €2.4M in convertibles and €1.1M in debt. Amongst the investors are Techstars, Primo Ventures, CDP Venture Capital and the family office of Massimo Prelz Oltramonti. Prelz is well known in the venture capital industry. The Wharton graduate is chairman of DN Capital’s investment comittee since 2001. He was formerly a Managing Director for private equity firm Advent International and Chairman of Jazztel plc.

Source: Finsmes, 20.07.2021

Picture source: Jordan Harrison

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