Verda, formerly known as DataCrunch, is a Helsinki-based AI infrastructure company. The company has raised €164.8 million (around $189 million) in new funding to expand its full-stack AI cloud platform.
The latest funding round has pushed Verda’s valuation to unicorn status, making it one of Europe’s newest billion-dollar AI companies. The company plans to use the fresh capital to scale its AI cloud infrastructure.
The funding includes an oversubscribed Series B round led by Emergence Capital. Other investors include MUFG Innovation Partners, Supermicro, Varma Mutual Pension Insurance Company, Lifeline Ventures, 6 Degrees Capital (6DC), byFounders, and Tesi (Finnish Industry Investment Ltd).
Several angel investors also joined the financing. They include Ola Tørudbakken from Meta and Mark Saroufim, associated with Core Auto and GPUMODE. Their participation adds further support as Verda expands its AI infrastructure business.
“AI is becoming critical infrastructure across industries, and the next few years are a pivotal window for Europe. Our north star is to build the first true tech company in Europe, with AI infrastructure as the starting foundation, and to bring down the carbon footprint of compute worldwide. We’re proud of our progress but are a long way from being done,” said Ruben Bryon, Verda’s founder and CEO.
Founded in 2020 by Bryon, Verda is a full-stack AI cloud company that manages the entire AI infrastructure, from physical data centres and hardware to its cloud platform and AI research.
The company says its data centres in Finland run entirely on renewable energy. Verda benefits from the Nordic region’s access to clean electricity and naturally cool conditions, which can help make data centre operations more energy efficient.
“Demand for AI compute is insatiable, and the gap between demand and supply is growing. Verda is moving quickly to secure and scale capacity, with the technology, ambition, and momentum to become a defining AI infrastructure company,” said Joe Floyd, General Partner at Emergence Capital.
Verda plans to use the new funding to speed up the development of its AI cloud. The company will improve everything from computing power to cloud services designed to support teams building advanced AI and AI agents.
