DataCrunch Raises €55M Series A for European AI Cloud Expansion

Finland's DataCrunch secured €55 million in a Series A funding round. byFounders, Skaala, Varma pension fund, and Tesi led the investment. J12 Ventures and angel investors also participated. Additionally, debt financing came from Nordea and Armada Credit Partners, with Danske Bank, Norion Bank, and Local Tapiola contributing.

This funding will scale DataCrunch's compute platform, advancing its goal to become Europe's first AI cloud hyperscaler. The Helsinki-based company, founded in 2020, now totals €76.5 million in capital raised. DataCrunch provides high-performance, cost-effective cloud GPU solutions for AI training and inference. Its customers include Sony, Freepik, and multiple educational institutions.

DataCrunch is deploying NVIDIA's latest HGX B200 systems, with B300 and GB300 integration planned. Consequently, the company aims to offer a one-stop platform for AI development, optimizing compute clusters for AI workloads.

Expanding Europe's AI Compute Capacity

DataCrunch submitted a proposal to the European Commission for an AI gigafactory in Latvia. This facility will deploy approximately 100,000 AI accelerators. It focuses on secure, regulation-compliant AI compute capacity within EU jurisdiction, furthermore utilizing up to 100% renewable energy.

The European AI market faces significant infrastructure challenges. US tech giants like Amazon, Google, and Microsoft dominate nearly 70% of the European cloud computing market. DataCrunch addresses this imbalance by building a secure, sovereign, and scalable AI cloud rooted entirely in Europe.

Recent releases include Instant Clusters for distributed AI workloads and Serverless Containers for high-scale inference. Looking ahead, upcoming features for the DataCrunch AI cloud platform include Managed Kubernetes and geographically-distributed Object Storage.