Helsinki's Verda becomes Europe's newest AI cloud unicorn after $189M raise

Helsinki-based AI cloud provider Verda has raised $189 million in a funding round led by Emergence Capital. Additional participants in the round include Supermicro, MUFG Innovation Partners, Varma, Lifeline Ventures, 6 Degrees Capital, byFounders, and Tesi. This new capital pushes Verda past a $1 billion valuation, making it Europe's newest artificial intelligence cloud unicorn.

This latest investment brings Verda's total funding to over $450 million. Despite this high figure, the company's funding remains modest compared to international rivals such as Nscale, Lambda, and CoreWeave, which operate with billions in funding or revenues. Alongside reaching unicorn status, Verda reports that it is cash-flow positive.

Verda provides cloud services specifically designed for artificial intelligence workloads. The company states that its services can cost up to 90 percent less than those offered by major competitors including Amazon Web Services, Microsoft Azure, and Google Cloud.