Verda raises $189M to expand AI cloud infrastructure across Europe and beyond
The Helsinki-based startup is cash-flow positive with a revenue run rate north of $60 million, and it's betting big on renewable-powered data centers.
Verda, a Helsinki-based AI cloud infrastructure company, has pulled in a massive funding round to fuel its expansion into new markets and beef up its data center operations. The round, initially announced at $117 million, was extended to $155 million after the Nordic Investment Bank joined the party, bringing the company’s total capital raised to roughly $200 million to $219 million across multiple rounds.
The equity portion of the raise was led by Lifeline Ventures, with debt financing coming from Nordic financial institutions.
From seed stage to serious contender
Verda posted a revenue run rate exceeding $60 million in Q1 2026 and expects to hit the $100 million mark by mid-year. The company raised a $13 million seed round in 2024 and followed it with a $64 million Series A in 2025, and has achieved cash-flow positive status.
The plan now is to hire more than 100 employees by the end of 2026.
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Green power, hot GPUs
Verda operates data centers in Finland and Iceland, both powered by 100% renewable energy. The company is also a recognized NVIDIA Preferred Partner, which gives it access to Nvidia’s latest GPU systems and ecosystem support. Verda plans to integrate Arm’s AGI CPU into its infrastructure alongside those Nvidia GPUs.
The European sovereignty play
Verda’s expansion roadmap includes the UK, US, and Asia. Founded in 2020 as DataCrunch, Verda rebranded in late 2025 and positions itself as a European-first alternative to US hyperscalers like AWS, Google Cloud, and Microsoft Azure, offering full-stack vertical integration comprising physical data centers, networking, and developer tools while aligning with European data sovereignty regulations.