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# Vates raises first ever outside funding, EUR 30 million, to grow VMware rival
- URL: https://sovereigntymonitor.eu/news/2026-10-06-vates-30m-external-funding/
- Published: 2026-10-06T12:00:00.000Z
- Updated: 2026-10-06T17:07:09.000Z
- Description: Vates, maker of the open source XCP-ng hypervisor and Xen Orchestra, raised EUR 30 million from IRIS and Bpifrance, its first ever external funding round. The Grenoble firm stays founder majority, pitching itself as a European rival to VMware after Broadcom's takeover.
- Author: Reidar Balstad
- Tags: Industry, investment and R&D, Compute and infrastructure, #news, #verified, #ai-drafted

Verified AI-drafted [Vates company blog, 6 October 2026](https://vates.tech/blog/vates-raises-eur30-million-from-iris-and-bpifrance-and-stays-open-source/?ref=sovereigntymonitor.eu)

**What it does not test.** This does not establish that Vates has taken meaningful market share from VMware or other incumbents.

**How this item counts.** No movement: no answer to who owns, who operates, whose law governs or who made the parts changes. Weight 0\. French firm raises EUR30m from French state/VC investors, founder stays majority; unchanged ownership. [European Sovereignty Index](https://sovereigntymonitor.eu/sovereignty-index/)

**How this item was made.** Drafted by an AI system (Claude (Anthropic)) from the source cited above and published under the editor’s responsibility without a person reading it first. [How the record is made](https://sovereigntymonitor.eu/method/#how-the-record-is-made)