Helsinki-based AI cloud provider Verda has secured $189 million in a Series B funding round, pushing its valuation past the $1 billion mark. The investment was led by Emergence Capital, with participation from Supermicro, MUFG Innovation Partners, Varma, Lifeline Ventures, 6 Degrees Capital, byFounders, and Tesi.
Founded by Ruben Bryon in 2020, the company provides GPU capacity for machine learning research. Verda operates its own data centers in Finland and Iceland, utilizing renewable energy to maintain costs up to 90% lower than major cloud providers. Its client list includes Nokia, 1X, ExpressVPN, and Freepik.
The company reached cash-flow positivity shortly after launch. By July, its annualized revenue run rate climbed to $165 million, up from $100 million. Verda, which became an NVIDIA Preferred Partner in November 2025, currently employs approximately 250 people across its offices in Helsinki, London, and San Francisco.
Verda’s total funding to date stands at $450 million. This figure remains modest compared to industry peers like Nscale, which raised over $3.6 billion, and Lambda, valued at $5.9 billion. The global AI cloud infrastructure market is projected to grow from $58.5 billion in 2026 to $297 billion by 2034.
