​​Dmitry Panenkov (Emma): Luxembourg's Cloud Pioneer Transforms Multi-Cloud Management
Dmitry Panenkov, Founder and CEO of Emma (Enterprise Multi-cloud Management Application), leads an innovative cloud management platform with €20 million annual recurring revenue and 83 employees globally.
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How did emma establish its foothold in Luxembourg's tech ecosystem?
I started with a few developers in 2018 while working in sales, noticing how European customers struggled with managing different cloud environments. Luxembourg emerged as our destination after Lux Innovation reached out about their equity-free programme offering up to 150K in grants. Initially, I didn't realize the grant required relocating the company, but this unexpected requirement turned into a strategic advantage. Today, our success speaks volumes – we've raised $23 million, built a team of 83 people, with more than 20 relocating to Luxembourg. The support from the Ministry of Economy, trade missions, and collaboration opportunities with universities have proven invaluable for our growth.
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What makes emma’s approach to cloud management unique in today's market?
Our platform interconnects different cloud service providers that companies use, helping them choose and integrate the best services from various providers while generating significant cost savings. Consider a scenario where a company needs specific services from different providers – without our solution, they would struggle to create a homogeneous environment. We simplify this complex process by building seamless connections. Looking at long-term perspectives, we've discovered that cloud services can actually be more expensive than on-premises servers over a seven-year timeframe. That's why we advocate for a hybrid approach, allowing organizations to maintain their core operations on-premises while leveraging cloud capabilities for scaling during traffic bursts."
"Everyone in Europe wants to work with European companies because it relates to the data stored in the cloud."
How does Luxembourg's infrastructure support emma’s vision for data sovereignty?
Luxembourg's tier-four data centers, featuring military-grade protection and robust interconnectivity, provide an exceptional foundation. Working with partners like G Core, POST's DIP division, and the Ministry of Economy, we're building a sovereign environment where data remains in Luxembourg while still accessing cutting-edge technologies from various providers. The strategic location, just 200 kilometers from Frankfurt's peering centre, enables efficient data transfer to the United States or any global destination. Moreover, Luxembourg's data centre ecosystem allows the creation of failover clusters, ensuring applications maintain 100% uptime, security, and sovereignty.