DataCrunch, a Helsinki-based provider of high-performance AI infrastructure, has raised a $64 million Series A funding round to expand its computing platform and further its goal of becoming Europe’s first AI-powered cloud hyperscaler. This round was led by byFounders, Skaala, Varma Mutual Pension Insurance Company, and Tesi, with participation from J12 Ventures, and select angel investors.
About DataCrunch
DataCrunch is a Finnish cloud infrastructure provider founded in 2018, specializing in AI and machine learning workloads.Â
The company offers GPU-powered services, including customizable clusters, on-demand instances, and managed inference endpoints, optimized for AI applications.
“All of DataCrunch’s operations in Finland and Iceland are powered by 100% renewable energy, leveraging the Nordics’ leadership in clean electricity and cooling efficiency. This funding allows us to grow to hyperscaler scale while staying true to that principle, delivering the performance you need with the lowest possible environmental impact,” says the company.
Investment details
This round was led by byFounders, Skaala, Varma Mutual Pension Insurance Company, and Tesi, with participation from J12 Ventures, and select angel investors. A portion of the round includes debt financing led by Nordea, Armada Credit Partners, with participation from Danske Bank, Norion Bank, and LocalTapiola.
byFounders is an early-stage venture capital firm based in Copenhagen and Stockholm. The firm focuses on sectors like consumer goods, fintech, healthcare, and SaaS, helping portfolio companies scale globally.
Skaala is a Tallinn-based investment firm which focuses on long-term value creation through private equity, real assets, and impact-driven projects since 2005.
Varma is a Finnish pension insurer offering coverage for private-sector employees and self-employed individuals. It specializes in long-term investments and focuses on solvency and sustainability.
Tesi (officially Finnish Industry Investment Ltd) is a state-owned, market-driven investment company that invests in venture capital and private equity funds and directly in Finnish startups and growth companies, and to new industrial scale businesses.
DataCrunch will use funding to expand its AI cloud infrastructure, deploy NVIDIA Blackwell-based systems, and open a new facility in Akaa, Finland. The funding will also support the development of a sovereign AI cloud and the creation of an AI GigaFactory in collaboration with the European Commission.