Finnish cloud service company DataCrunch announces EUR 55 million Series A round
The Finnish AI cloud service company DataCrunch has secured EUR 55 million (USD 64M) in growth funding. Existing investor byFounders led the round in which Tesi made its initial investment in the company, along with Varma Pension Fund and Estonian investor Skaala. J12 Ventures and select angel investors also participated. A portion of the round includes debt financing.
The computing power required by AI-based applications has grown rapidly in recent years, and this explosive growth is expected to continue for years to come. DataCrunch provides a GPU cloud computing platform specializing in the training and inference of AI models. Not only does DataCrunch rely exclusively on renewable energy sources in its operations, it also ensures data protection and information security for its users by complying with the EU’s General Data Protection Regulation (GDPR) and the internationally recognized ISO 27001 standard.
“The demand for computing power suitable for AI based applications has exploded in the last couple of years and requires specialized cloud services like DataCrunch. In a relatively short time, the company has succeeded in earning the trust of many businesses as the top choice for GPU cloud services and has rapidly scaled its business. DataCrunch offers computing power entirely within the EU, based 100% on renewable energy sources. For these reasons, we are pleased to support the capable DataCrunch team with our investment as they scale up to the next level,” explains Samppa Sirviö, Investment Manager at Tesi.
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Additional information:
Samppa Sirviö, Investment Manager, Venture and Growth Investments
samppa.sirvio@tesi.fi
+358 50 518 6063
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. tesi.fi | X (Twitter) | LinkedIn | Instagram | Bluesky | Threads | Newsletter