Verda raises $189M to build Nordic AI compute capacity

Emergence Capital led the oversubscribed Series B, which closed on September 22. Supermicro, MUFG Innovation Partners, Varma, Lifeline Ventures, 6 Degrees Capital, byFounders and the Finnish state investor Tesi also took part. The valuation is at least $1 billion, with no exact figure disclosed. Total equity and debt funding now exceeds $450 million. Revenue run rate was about $165 million in July, against roughly $60 million at the April raise, and customers include Aleph Alpha, Magnific and Epsilon Health. The company, formerly DataCrunch, started in a Helsinki garage in 2020. Earlier rounds were a $13 million seed in October 2024 and a $64.6 million Series A in September 2025. An April round of about $117 million later grew to $155 million with the Nordic Investment Bank. Verda says it will deploy Nvidia Vera Rubin systems and aims for more than 250 megawatts and over 100,000 GPUs in 2027. For AI founders, this adds a well-funded European option for GPU capacity, with Supermicro's stake potentially easing hardware supply. Most of the promised capacity is still planned, and Finland is reportedly the only live data-center base. Buyers should treat delivery against the 2027 targets as the thing to verify before committing workloads.