NodeX Cloud AB Due Diligence
Run due diligence on NodeX Cloud AB: check compliance and get alerts when suppliers or ownership change.
Sweden · owned by Independent (Sweden) · nodexcloud.org · 6 vendors
NodeX Cloud AB is a Lund University spinout based at MINC Incubator in Malmö, Sweden, developing decentralized cloud storage infrastructure secured with post-quantum cryptography (Kyber1024 / ML-KEM) and Reed-Solomon erasure coding. The company offers an S3-compatible storage proxy designed for EU-regulated enterprises in healthcare, defense, banking, and government, ensuring compliance with GDPR, NIS2, and DORA regulations. It has filed two patents at the Swedish Patent Office (PRV), built on over four years of academic cryptography research.
Resilience scores
- Digital Sovereignty: 0
- Digital Resilience: 3
- Financial Resilience: 3
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Insights
Last updated 2026-08-18 · revision 4
6 direct vendors, 110 subvendors
Direct vendors by controlling owner country (sample)
- United States: 6
Subvendors by controlling owner country (sample)
- Netherlands: 2
- United States: 92
- Australia: 2
Compliance
8 in-scope frameworks identified; showing 3.
GDPR (source) — No public evidence
Evidence: https://nodexcloud.org, https://www.imy.se/en/, https://gdpr-info.eu/, https://ec.europa.eu/info/law/law-topic/data-protection/data-protection-eu_en
Cyber Resilience Act (source) — No public evidence
Evidence: https://nodexcloud.org, https://digital-strategy.ec.europa.eu/en/policies/cyber-resilience-act, https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX%3A32024R2847
DORA (source) — No public evidence
Evidence: https://nodexcloud.org, https://www.eba.europa.eu/regulation-and-policy/digital-operational-resilience-act-dora, https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX%3A32022R2554
Financials
Financial Resilience Score: 3/10
NodeX Cloud AB is a very early-stage Swedish deep-tech startup, a Lund University spinout housed at MINC Incubator in Malmö. No verifiable financial figures were obtainable, but the qualitative profile suggests a pre-revenue or earliest-commercial-phase company that is almost certainly loss-making and dependent on external funding rounds. Runway rather than profitability is the key financial metric at this stage. The company benefits from strong regulatory tailwinds (NIS2, DORA, GDPR) that create mandatory demand for EU-sovereign, encryption-strong storage. Its post-quantum readiness via NIST-standardized ML-KEM (Kyber) is a credible technical differentiator, and its academic lineage with two PRV patent filings suggests defensible technology. However, patents are only filed (not granted), and the company faces long procurement cycles (12-24+ months) in its target sectors of healthcare, defense, banking, and government. Competitive pressure is significant from sovereign-cloud players (OVHcloud, Scaleway, Exoscale, Elastx, Safespring, Cleura) and storage-specific competitors (Wasabi, Backblaze B2, MinIO, Cubbit), as well as hyperscaler sovereign offerings. Customer concentration risk is high at this stage, and cryptography/distributed-systems talent in Sweden is scarce and expensive. The low resilience score reflects the typical fragility of a seed/pre-Series A deep-tech startup.
Key strengths: Regulatory tailwind from NIS2, DORA, and GDPR creating mandatory demand, Post-quantum encryption (Kyber1024/ML-KEM) as technical differentiator vs hyperscalers, Academic IP moat from Lund University with two PRV patent filings, MINC Incubator support providing network and soft-funding pathways (Vinnova, EIC Accelerator, Eurostars), S3-compatible API lowers switching cost for prospects
Risk factors: Stage risk: almost certainly loss-making and dependent on external funding, Long sales cycles (12-24+ months) in healthcare, defense, banking, government, Intense competition from OVHcloud, Scaleway, Elastx, Safespring, Cleura, Wasabi, Backblaze, MinIO, Cubbit, and hyperscaler sovereign offerings, High customer concentration risk with likely handful of pilot customers, Scarce and expensive cryptography and distributed-systems talent in Sweden, Patent uncertainty - filings may be narrowed or rejected, Single product line concentration (~100% on S3-compatible sovereign storage proxy)
Revenue by product/service
- S3-compatible sovereign storage proxy: 100%
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