Finnish AI infrastructure company Verda has raised USD 189 million in a funding round led by Emergence Capital. Swedish By Founders is also among the investors. The round values Verda at at least USD 1 billion, equivalent to nearly SEK 10 billion, Bloomberg News reports.
The capital will be used to expand the company’s computing capacity. Verda plans, among other things, new data centers in Pyhäjoki, Finland, and Sundsvall, where the company, according to CEO Ruben Bryon, has secured land and is working on the timeline for grid connection and construction start. He tells Breakit.
In July, Verda reached an annual revenue run rate of USD 165 million and aims to grow by more than 500 percent over the coming year. The company also aims to raise up to USD 1.5 billion in equity and debt this year and up to USD 10 billion during 2027, according to Bryon.
