Helsinki-based Verda has raised €100m in a debt and equity round to build what it calls a European hyperscaler, challenging American cloud giants AWS, Microsoft and Google. Lifeline Ventures led the round with participation from byFounders, Tesi and Varma. The company, formerly known as Datacrunch, operates data centers in Finland and Iceland with an office in London, and plans to open offices in California and Asia.

The funding will accelerate development of AI cloud infrastructure across Europe, the US and Asia. CEO Ruben Bryon said the company is constructing data centers in Finland and expanding to Sweden for larger sites. Verda employs over 100 people and plans to hire another 100, focusing on engineering, hardware and AI research. The company has raised approximately €170m in total funding and is now cash flow positive, with revenue run rate doubling to over $60m in Q1 2026.

Part of the demand surge stems from Europe's push for tech sovereignty. Bryon emphasized Verda's commitment to remaining European-owned, noting many European tech companies eventually relocate headquarters to the US. "Not being a US company is quite important," he said, positioning European neutrality as a global differentiator against US-centric providers.