Helsinki-based AI cloud infrastructure provider Verda has secured $189 million in a recent funding round. The investment was initially set at $117 million but increased to $155 million following participation from the Nordic Investment Bank. This brings the company's total capital raised across multiple rounds to between $200 million and $219 million.
The equity financing was led by Lifeline Ventures, with additional debt capital provided by Nordic financial institutions. Verda reported a revenue run rate exceeding $60 million in the first quarter of 2026 and projects this figure will reach $100 million by mid-year. The startup, which is currently cash-flow positive, previously raised $13 million in a 2024 seed round and $64 million in a 2025 Series A.
Founded in 2020 as DataCrunch and rebranded in late 2025, the company operates data centers in Finland and Iceland that run on 100% renewable energy. As an NVIDIA Preferred Partner, Verda utilizes the latest GPU systems and plans to integrate Arm AGI CPUs into its infrastructure. The firm aims to compete with major US hyperscalers by focusing on European data sovereignty.
Verda plans to use the new capital to expand its operations beyond Europe, with a roadmap that includes entering markets in the UK, the US, and Asia. The company offers a vertically integrated stack that includes physical data centers, networking, and developer tools, positioning itself as a European alternative to providers like AWS, Google Cloud, and Microsoft Azure.
