Verda Raises €164.8M to Become Europe's Newest AI Unicorn

Helsinki-based AI cloud provider Verda has raised €164.8 million in fresh capital to scale its full-stack cloud platform. Originally founded in 2020 as DataCrunch before rebranding, the company manages operations across physical data centers, specialized hardware, and cloud software platforms. Verda operates facilities in Finland powered by 100 percent renewable energy to lower carbon intensity.

The enterprise reached an annual run rate of €143.85 million in July and recently secured a €22 million loan from the Nordic Investment Bank. With the latest round, total capital raised by the company now stands at over €392.3 million. This new financing successfully elevates the enterprise to unicorn status as market demand for high-performance computing accelerates globally.

Verda plans to use the newly acquired funding to support several strategic objectives. These include accelerating product development across all cloud software layers for frontier research teams and increasing capital investments in AI inference hardware over the next 12 months. The company also aims to expand its international operations from existing bases in San Francisco and the United Kingdom.