Finnish AI cloud startup Verda lands $189m funding round
Verda operates two data centers and is planning another in Sweden.
European tech firm Verda has secured $189 million in fresh funding to bolster its AI cloud platform and expand its computational resources. The investment, led by Emergence Capital, includes participation from MUFG Innovation Partners, Supermicro, Varma Mutual Pension Insurance Company, Lifeline Ventures, 6 Degrees Capital (6DC), byFounders, Tesi, and notable angel investors such as Meta's Ola Tørudbakken and Core Auto's Mark Saroufim.
With this latest round, Verda's total funding reaches over $450 million, valuing the company at more than $1 billion and placing it among Europe's unicorns. Founded in Helsinki in 2020, Verda offers a comprehensive AI cloud solution, managing hardware to cloud services and research. CEO Ruben Bryon emphasized the company's ambition to become Europe's leading AI infrastructure firm while reducing compute's carbon footprint.
Verda's recent growth, including a $165 million annualized revenue run rate in July, fueled by an oversubscribed Series B round, will be directed towards advancing product development and bolstering its international presence.
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