Estonian Skaala invests in Finnish DataCrunch
Estonian venture fund Skaala participated in a $64M Series A funding round for DataCrunch, a Helsinki-based provider of high-performance artificial intelligence infrastructure. ByFounders, Varma Mutual Pension Insurance Company, Tesi, J12 Ventures, and several business angels also participated in the round.
DataCrunch is a Finnish cloud infrastructure provider founded in 2018 and specializing in artificial intelligence and machine learning. The company offers GPU-based services, including customizable clusters, on-demand instances, and managed endpoints for data output optimized for AI applications.
With the new funding, DataCrunch will expand its cloud AI infrastructure, implement NVIDIA Blackwell, open a new facility in Aa, Finland, develop a sovereign cloud, and create an AI GigaFactory with the European Commission.
Skaala (formerly Taavet+Sten) is an investment company from Estonia. Founded in 2021 by former Skype executives Taavet Hinrikus and Sten Tamkivi. The company's goal is to create meaningful long-term value. The portfolio includes private equity, real assets and impact-oriented projects.
ByFounders is a venture capital firm founded in 2017 that specializes in investing in early-stage startups in Scandinavia and the Baltic states. The company is based in Copenhagen and Stockholm.
Varma Mutual Pension Insurance Company is a pension insurance company in Finland. It was founded in 1998 as a result of the merger between Pension-Sampo and a large segment of Pension-Varma.
Tesi is a state-owned investment company founded in 1995 that helps promising Finnish companies grow. Tesi focuses on sectors such as deep tech, medical technology, and the clean economy.
J12 Ventures is a venture capital fund headquartered in Stockholm, Sweden. Founded in 2019, it specializes in early-stage investments.
