Verda Raises $189 Mn Series B at $1B+ Valuation to Scale AI Cloud

The round was backed by MUFG Innovation Partners, Supermicro, Varma Mutual Pension Insurance Company, Lifeline Ventures, 6 Degrees Capital (6DC), byFounders and Tesi (Finnish Industry Investment Ltd). Angel investors including Ola Tørudbakken of Meta and Mark Saroufim of Core Auto and GPUMODE also participated.

With the latest funding, Verda’s total funding has now surpassed $450 million. The company plans to use the new capital to scale its AI cloud platform and expand its access to computing power.

According to Verda, the new funding values the company at more than $1 billion, making it Europe’s latest unicorn. This means the company has joined the group of privately held technology companies valued at over $1 billion.

"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.

Founded in Helsinki in 2020, Verda builds and runs a full-stack AI cloud. The company manages everything from physical data centres and hardware to its cloud platform and AI research.

Verda provides on-demand computing infrastructure for AI workloads. It operates across Europe, the US and Asia, helping businesses access the computing power they need for AI development and applications.