Verda, a Helsinki-based AI cloud provider previously known as DataCrunch, raised $189m (€163m) in an oversubscribed Series B round plus additional investment, the company announced on 22 September 2026. Emergence Capital led the round.
MUFG Innovation Partners, Supermicro, Varma Mutual Pension Insurance Company, Lifeline Ventures, ENDUR, 6 Degrees Capital, byFounders and the Finnish state investor Tesi also took part, along with angel investors Ola Tørudbakken and Mark Saroufim.
Verda did not give an exact valuation but said the round valued it at more than $1bn. The company said its total funding now exceeds $450m.
“AI is becoming critical infrastructure across industries, and the next few years are a pivotal window for Europe.”Ruben Bryon, Founder and CEO, Verda
What Verda does
Founded in Helsinki in 2020, Verda operates what it describes as a full-stack AI cloud. It runs physical data centres and hardware, a cloud platform on top of them and its own AI research team, and sells compute and platform services to companies building AI models and agents. The company has not disclosed how many data centres it runs or how much capacity it has.
Verda said it has about 250 employees from more than 40 countries. It recently opened offices in London and San Francisco. One customer it highlighted is Epsilon Health, a radiology AI company.
The company said it reached an annualised revenue run rate of $165m in July. According to The Next Web, the figure was above $60m at the time of its previous round in April.
Who invested
Emergence Capital led the round. Joe Floyd, a general partner at the firm, said in the announcement that demand for AI compute far exceeds supply and that the gap is widening.
The investor group mixes venture firms, Supermicro and Finnish institutional money: Varma is a mutual pension insurance company and Tesi, formally Finnish Industry Investment Ltd, is a state investor. Lifeline Ventures, which led Verda's previous round, returned. Verda's announcement also lists J12 Ventures and Skaala among its earlier backers. Tørudbakken comes from Meta and Saroufim from Core Automation and GPU MODE, according to Tech.eu and the company.
"AI is becoming critical infrastructure across industries, and the next few years are a pivotal window for Europe," said Ruben Bryon, Verda's founder and chief executive.
What the money is for
Verda said it would use the funding to speed up product development across its stack, from infrastructure to its cloud platform and research, with particular investment in inference, the work of running trained models for users. It plans to multiply its compute capacity over the next year, though it did not give target figures.
The company also plans to expand further across Europe, the US and Asia after opening its London and San Francisco offices.
The funding so far
The Series B came about five months after an April round led by Lifeline Ventures. The Next Web reported that the earlier round was $117m, made up of equity and debt from Nordic lenders, and that Verda later said it had grown to $155m after the Nordic Investment Bank joined.
Including the new round, Verda says it has raised more than $450m. It has not broken down how much of that total is equity and how much is debt.
Company website: verda.com