Verda raises $155M to expand AI cloud infrastructure across Europe
In brief
- Verda raised $155M in latest round after Nordic Investment Bank joined, extending initial $117M announcement
- Company posted $60M revenue run rate in Q1 2026, targeting $100M by mid-year
- Verda operates renewable-energy data centers in Finland and Iceland, plans 100+ hires by end-2026
Funding Milestone and Revenue Trajectory
The round, initially announced at $117 million, was extended to $155 million after the Nordic Investment Bank joined. Equity financing was led by Lifeline Ventures, with debt coming from Nordic financial institutions.
Verda's growth is accelerating. The company posted a revenue run rate exceeding $60 million in Q1 2026 and expects to hit the $100 million mark by mid-year. It's already cash-flow positive, a rare achievement for infrastructure-heavy startups at this stage.
Infrastructure and Expansion Plans
Verda operates data centers in Finland and Iceland, both powered by 100% renewable energy. The company is building full-stack vertical integration—physical infrastructure, networking, and developer tools—to reduce dependency on third-party cloud providers.
Verda is a recognized NVIDIA Preferred Partner and plans to integrate Arm's AGI CPU into its infrastructure alongside NVIDIA GPUs. This multi-chip strategy lets customers avoid vendor lock-in while accessing cutting-edge compute.
Expansion roadmap includes the UK, US, and Asia. The company also plans to hire more than 100 employees by the end of 2026 to support this growth.
European Data Sovereignty Play
Founded in 2020 as DataCrunch, Verda rebranded in late 2025. The rebrand signals a pivot toward positioning itself as a European alternative to hyperscalers. Verda's infrastructure aligns with European data sovereignty regulations—a growing concern for enterprises and governments seeking to keep sensitive workloads within EU borders.
This matters. As AI workloads intensify globally, the demand for compliant, non-US cloud alternatives is rising. Verda's combination of renewable-powered data centers, NVIDIA partnerships, and geographic expansion could appeal to enterprises balancing performance with regulatory compliance.
