Finnish AI cloud company Verda becomes Europe's newest unicorn
Helsinki-based AI infrastructure company Verda has raised €164.8 million in new funding, reaching unicorn status. The capital will fund expansion of compute capacity and platform services.
Verda, an AI infrastructure company based in Helsinki and formerly known as DataCrunch, has announced raising €164.8 million ($189 million) in fresh funding to expand its full-stack AI cloud offering. The investment has pushed the company's valuation past the one-billion-euro threshold, making it Europe's newest unicorn.
The round, which included an oversubscribed Series B, was led by Emergence Capital. Other participants included MUFG Innovation Partners, Supermicro, pension insurer Varma, Lifeline Ventures, 6 Degrees Capital, byFounders, and Finnish state investment fund Tesi, alongside a group of angel investors.
Company operations and goals
Founder and CEO Ruben Bryon said AI is becoming critical infrastructure across industries and that the coming years represent a pivotal window for Europe. Founded in 2020, Verda operates as a full-stack AI cloud provider, managing everything from physical data centres and hardware to its cloud platform and AI research. Its Finnish data centres run entirely on renewable energy, benefiting from the Nordic region's access to clean electricity and efficient cooling.
Last November, the company rebranded from DataCrunch to Verda, a name derived from the Spanish word for "true" and the Esperanto word for "green."
Previous funding history
The new round follows a string of milestones. In July, Verda reached an annualised revenue run rate of €143.85 million and secured a €22 million loan from the Nordic Investment Bank. In April, it raised nearly €102 million in equity led by Lifeline Ventures. A €55 million Series A closed last September, following a €12 million seed round in 2024. In total, Verda has now raised more than €392.3 million.
The fresh capital will go toward product development across every layer of its AI cloud, including compute capacity and platform services for AI teams. The company also plans to invest in inference technology and expand its compute capacity over the coming year. It has recently opened offices in London and San Francisco, with further expansion planned across Europe, the United States and Asia. Verda currently employs around 250 people from more than 40 countries.
