SC Ventures Leads Hive’s €12M Series A, Enabling Sustainable Distributed Cloud Computing for the Masses

Hive's technology aims to transform 70% of the world's unused device capacity into a global supercomputer GENEVA, March 29, 2024 /PRNewswire/ — SC Ventures , Standard Chartered's innovation, fintech investment and ventures arm, is leading a €12 million (USD $13 million) Series A round for distributed cloud provider Hive , to increase access to sustainable, high-powered computing resources for businesses and individuals. OneRagtime , a French venture capital fund that led Hive's Seed round, and a collection of private investors also joined the round. Hive is reinventing the cloud from a centralized model that uses expensive physical servers to a…