Helsinki’s Verda becomes Europe’s latest unicorn after raising €164.8 million to scale its full-stack AI cloud

Helsinki-based AI infrastructure company Verda, formerly known as DataCrunch, has raised €164.8 million in an oversubscribed Series B funding round led by Emergence Capital. This latest financial backing pushes the company's valuation to unicorn status. Additional participants in the round include MUFG Innovation Partners, Supermicro, Varma Mutual Pension Insurance Company, Lifeline Ventures, 6 Degrees Capital, byFounders, Tesi, and several angel investors. With this round, Verda has raised over €392.3 million in total funding since its founding in 2020 by Ruben Bryon, who serves as the CEO.

Verda operates as a full-stack AI cloud company that manages physical data centres, hardware, cloud platforms, and AI research. Its data centres in Finland run entirely on renewable energy, utilizing the natural cooling and clean electricity advantages of the Nordic region. The company rebranded from DataCrunch to Verda, taking the name from words meaning true and green, to reflect its focus on sustainable innovation. Verda employs around 250 people globally and recently opened offices in London and San Francisco.

The newly secured capital will fund the expansion of Verda’s full-stack AI cloud, increasing compute capacity, advancing product development, and investing in areas like inference. The company also plans further expansion across Europe, the United States, and Asia. This growth follows a strong financial period that included reaching a €143.85 million annualized revenue run rate in July and securing a €22 million loan from the Nordic Investment Bank, alongside earlier equity rounds in 2024 and 2025.