Helsinki-based DataCrunch, a cloud platform providing GPU compute for AI development, has raised a $64M (approximately €54.5M) in a Series A round co-led by byFounders, Skaala, Varma Mutual Pension Insurance Company, and Tesi.

Contentlockr

Others, including J12 Ventures and select angel investors, also participated.

A portion of the funding also includes debt financing from Nordea, Armada Credit Partners, Danske Bank, Norion Bank, and LocalTapiola.

The funding comes a couple of weeks after the Danish VC firm byFounders announced the launch of byFounders Fund III to continue supporting early-stage startups and advancing its mission in the venture capital industry.

Last year, the Finnish company raised $13M (approx €12M) in a seed funding round led by byFounders.

Fund utilisation

The Finnish company will use the funds to accelerate its mission of building Europe’s first sovereign AI cloud hyperscaler.

The capital will also support the deployment of NVIDIA Blackwell-based GB300 and B300 systems and expansion into a new site in Akaa, Finland, giving customers across Europe access to low-latency, sovereign infrastructure.

In the upcoming months, the company plans to roll out several new features.

These include Managed Kubernetes, which aims to simplify cluster management.

Additionally, there will be geographically distributed object storage to provide greater flexibility for AI development while ensuring data security remains intact.

The rollout will also feature managed inference endpoints with custom acceleration tailored for various models, including language, audio, image, and video.

Furthermore, the platform will continue to see improvements across multiple areas, such as identity and access management (IAM), application programming interfaces (APIs), network automation, and efforts to decrease cold start times.

“This milestone is only possible because of the trust of our customers, the belief of our investors, and the dedication of our diverse team of nearly 60 people, representing 27 nationalities, who make DataCrunch what it is today,” says the company.

DataCrunch: Democratising GPU access sustainably

Europe’s gap in cloud capacity remains a critical challenge for European companies because of their dependence on foreign cloud providers, primarily US hyperscalers.

This dependence creates issues with data security, regulatory compliance, and cost efficiency for startups, large enterprises, research institutions, and the public sector.

Here’s where DataCrunch comes into play!

DataCrunch was founded with a mission — to provide accessible and sustainable GPU options.

“We believe that European innovators deserve better. That’s why DataCrunch is building a sovereign, secure, and scalable AI cloud, keeping your data in Europe, fully GDPR-compliant, and outside the reach of the US Cloud Act,” says the company.

It has partnered with AI startups like 1X and Unbabel, as well as companies such as Sony and Freepik, along with various research institutions and government agencies.

In early 2025, the company launched several new services:

  • On-demand access to NVIDIA HGX B200, making it one of the first providers globally to offer this technology.
  • Instant Clusters with InfiniBand interconnect for self-service distributed training.
  • Serverless Containers to handle high-volume inference workloads.

Additionally, the company was also recognised in SemiAnalysis’s GPU Cloud ClusterMAX Rating System, where it ranked alongside Google Cloud and above more than 100 other providers.

Currently, the company’s operations in Finland and Iceland run on 100% renewable energy, combining the Nordics’ clean electricity grid with natural cooling efficiency.

The company says this approach allows it to scale responsibly while keeping environmental impact to a minimum.

The Finnish company has submitted a proposal to the European Commission, with the backing of the Republic of Latvia and partners, to establish one of Europe’s first AI GigaFactories.

The planned facility could house up to 100,000 accelerators, dedicated to large-scale model training and inference.

“As regulatory, environmental, and technological forces converge, we’re committed to being the partner that helps innovators, enterprises, and public institutions build the future of AI, on infrastructure that is fast, fair, and green,” the company says.