1. Cubbit, an Italian company, has raised $12.5 million to expand its decentralized storage business in Europe with a focus on data sovereignty and sustainability. 2. The company uses a decentralized storage model, similar to Airbnb, which aggregates spare datacenter capacity and sells it as a storage cloud, offering a lower-cost alternative to traditional public cloud storage services. 3. The new funding will support Cubbit's expansion in Europe without significant capital expenditure, focusing on regions like DACH, French-speaking areas, and the UK, and will also be used to consolidate its application ecosystem to support various industries.