Verda

AI Infrastructure · Cloud Computing · GPU Compute

Funding

Verda raises $189M Series B, becomes Europe's newest AI cloud unicorn

The Helsinki startup needed roughly 300 investor pitches before proving Europe could fund GPU-heavy AI infrastructure at hyperscaler scale.

• Verda closed an oversubscribed $189M Series B led by Emergence Capital, pushing its valuation above $1 billion and making it Europe's newest AI unicorn.
• Founded in Helsinki in 2020 as DataCrunch, Verda builds a full-stack AI cloud, owning everything from data centers and hardware to the cloud platform and AI research on top.
• The raise brings Verda's total funding past $450M across equity and debt, following a $13M seed in 2024, a $64M Series A in 2025, and a $117M-to-$155M round in April 2026.
• Verda's annualized revenue run rate hit $165 million in July, up sharply from roughly $60 million earlier in 2026.
• Verda's existing data centers in Finland and Iceland run on 100% renewable power, part of its pitch as a lower-carbon, sovereign alternative to US hyperscalers for European AI workloads.
• The company plans to multiply its compute capacity within a year, expand toward more than 250 MW of operations in 2027, and grow newly opened offices in London and San Francisco.
• Verda's climb shows capital-intensive AI infrastructure bets, once dismissed by investors as too expensive to build from Europe, can now clear the unicorn bar on revenue growth alone.