Helsinki's Verda Hits Unicorn Status with $189M Raise to Scale AI Cloud

Jan de Vries · 2026-09-22

Helsinki-based AI infrastructure company Verda, formerly known as DataCrunch, just announced a massive funding round: $189 million (€164.8 million). That's a big deal because it pushes the company into unicorn territory, making it one of Europe's latest billion-dollar startups. The round was an oversubscribed Series B led by Emergence Capital, with participation from MUFG Innovation Partners, Supermicro, Varma Mutual Pension Insurance Company, Lifeline Ventures, 6 Degrees Capital, byFounders, Tesi, and a group of angel investors including Ola Tørudbakken (Meta) and Mark Saroufim (Core Auto and GPUMODE). So what's behind this raise? Verda is building a full-stack AI cloud that handles everything from physical data centers and hardware to the cloud platform and AI research. Their data centers in Finland run on 100% renewable energy, leveraging the Nordics' natural advantages in clean electricity and cooling efficiency. That's a smart move as AI compute demand skyrockets and sustainability becomes a bigger concern. ### The Road to Unicorn Status Verda was founded in 2020 by Ruben Bryon, who serves as CEO. The company rebranded from DataCrunch last November, with the name "Verda" derived from the Spanish word for "true" and the Esperanto word for "green." It's a nod to their values of technological integrity and sustainable innovation. Before this round, Verda had already raised over $450 million in total funding. That includes a $165 million annualized revenue run rate in July, a $22 million loan from the Nordic Investment Bank, and a $117 million equity round in April led by Lifeline Ventures. In September of last year, they raised $55 million in Series A funding, and back in 2024, a $12 million seed round. Clearly, investors see something special here. "AI is becoming critical infrastructure across industries, and the next few years are a pivotal window for Europe," said Bryon. "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." ### What's Next for Verda? With this fresh capital, Verda plans to accelerate product development across all layers of its AI cloud, from compute capacity to platform services for frontier AI teams in the agentic era. They also intend to invest in inference and increase compute capacity over the next year. The company recently opened offices in London and San Francisco and has plans to expand further across Europe, the United States, and Asia. They currently employ around 250 people from over 40 nationalities. Joe Floyd, General Partner at Emergence Capital, commented, "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." Verda's story is a testament to Europe's growing tech ecosystem. It's not just about the money—it's about building something that matters. As AI continues to transform industries, infrastructure providers like Verda will be the backbone. And with a focus on sustainability, they're aiming to do it without costing the earth. For those tracking EU Inc news and European startup incorporation, Verda's rise is one to watch. It shows that with the right mix of innovation, capital, and timing, European startups can compete on a global scale. And who knows? The next unicorn might be just around the corner.