Investment: “Verda raises $189M”
Verda is a European technology company that develops and operates a full-stack AI cloud, managing infrastructure from physical data centres and hardware through to its cloud platform and AI research. The company has raised $189 million in an oversubscribed Series B led by Emergence Capital to scale its AI cloud and expand compute capacity.
Other participants in the round include MUFG Innovation Partners, Supermicro, Varma Mutual Pension Insurance Company, Lifeline Ventures, 6 Degrees Capital (6DC), byFounders and Tesi (Finnish Industry Investment Ltd), as well as angel investors including Ola Tørudbakken of Meta and Mark Saroufim of Core Auto and GPUMODE.
Founded in Helsinki in 2020 by Ruben Bryon, Verda provides on-demand computing infrastructure for AI workloads and operates across Europe, the US and Asia. The latest financing brings the company’s total funding to more than $450 million and, according to Verda, values it at over $1 billion, making it a European unicorn.
The company manages the full stack for AI customers — from data centre hardware to platform services — and recently reached a $165 million annualised revenue run rate in July. Verda has also opened offices in London and San Francisco as part of its international expansion.
Verda will use the new funding to accelerate product development across all layers of its AI cloud, increase compute capacity (including investments in inference), multiply its compute capacity over the next year and support continued expansion across Europe, the US and Asia.
“AI is becoming critical infrastructure across industries, and the next few years are a pivotal window for Europe. Our north star is to build the first true tech company in Europe, with AI infrastructure as the starting foundation, and to bring down the carbon footprint of compute worldwide. We’re proud of our progress but are a long way from being done,” said Ruben Bryon, Verda’s founder and CEO.
