Verda Raises $189M in Round Led by Emergence Capital to Expand Its AI Cloud
The oversubscribed Series B will expand Verda’s computing capacity severalfold as demand for AI compute outpaces supply, Emergence Capital said.
- On Tuesday, Helsinki-based AI cloud company Verda raised $189M in an oversubscribed Series B round led by Emergence Capital, General Partner Joe Floyd announced.
- This latest financing brings Verda's total funding to more than $450 million, valuing the company at over $1 billion and making it Europe's newest unicorn.
- Verda's annualized revenue run rate reached $165m in July, well above the $60m reported in April, while Supermicro and MUFG Innovation Partners backed the round.
- The company plans to increase computing capacity severalfold within a year while expanding operations into London and San Francisco in recent months.
- Ruben Bryon, Verda founder and CEO, said the company aims to "build the first true tech company in Europe" while reducing compute's carbon footprint worldwide.
14 Articles
14 Articles
Helsinki-based neocloud startup Verda announced it has secured $189 million in Series B funding to strengthen its AI infrastructure. The article "European Neocloud Startup Verda Secures $189 Million in Investment" first appeared on TechInside.
Verda, a startup focused on artificial intelligence infrastructure, is Finland's new unicorn. The company announced a new funding round of $189 million on Tuesday morning. The pension company Varma invested an additional EUR 51 million in Verda.
European neocloud Verda raises $189M to build the AI infrastructure of tomorrow
Helsinki, Finland-based neocloud outfit Verda Cloud Oy, formerly DataCrunch, today announced it raised $189 million in early-stage funding to expand its artificial intelligence cloud infrastructure, from AI compute capacity to platform services. Emergence Capital led the Series B round, with additional investments from MUFG Innovation Partners, Supermicro, Varma Mutual Pension Insurance Company, Lifeline Ventures, 6 […]
Coverage Details
Bias Distribution
- 50% of the sources lean Left, 50% of the sources are Center
Factuality
To view factuality data please Upgrade to Premium
