European technology firm Verda has secured $189 million in a Series B funding round led by Emergence Capital. The investment round included participation from MUFG Innovation Partners, Supermicro, Varma Mutual Pension Insurance Company, Lifeline Ventures, 6 Degrees Capital, byFounders, and Tesi. Several angel investors, including representatives from Meta and Core Auto, also joined the round.
This latest financing brings the company's total funding to more than $450 million. According to Verda, the company is now valued at over $1 billion, achieving unicorn status. The firm, founded in Helsinki in 2020, operates a full-stack AI cloud that manages infrastructure from physical data centers to platform services. In July, Verda reached an annualised revenue run rate of $165 million.
Verda plans to use the capital to accelerate product development and significantly increase its compute capacity over the next year. The company intends to focus on areas such as inference and platform services for AI teams. Furthermore, the firm aims to support its ongoing international expansion, having recently opened new offices in London and San Francisco to serve markets in Europe, the US, and Asia.
