In September 2026, Verda (verda.com), a European AI cloud service provider, announced the completion of a $189 million Series B funding round led by Emergence Capital. With this round, the company’s valuation surpassed $1 billion, earning it “unicorn” status in Europe. To date, Verda has raised over $450 million in total funding, comprising both equity and debt financing.
Founded in 2020 and headquartered in Helsinki, Verda (formerly known as DataCrunch) focuses on building full-stack cloud infrastructure tailored for AI. It manages everything in-house—from proprietary data centers and hardware to the cloud platform itself—lowering the barrier to AI development by providing “instant, on-demand, and scalable” computing power. Its Finnish data centers run entirely on renewable energy, offering costs up to 90% lower than those of mainstream cloud providers.
The company is experiencing strong growth momentum. As of July 2026, Verda’s annualized revenue run rate reached $165 million, marking a significant surge. Its client base includes companies such as 1X, ExpressVPN, and Freepik, with operations spanning more than 50 countries.
Proceeds from this round will be used to expand computing capacity and accelerate product R&D, with a particular focus on AI inference workloads. Verda plans to multiply its computing capacity within the next year and advance the construction of new data centers in Finland and Sweden, aiming to operate a total capacity exceeding 250 megawatts by 2027. Founder Ruben Bryon stated that AI is becoming critical infrastructure, and Verda’s “North Star” is to build Europe’s first true technology giant.
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