Velatir Raises €5m to Drive AI Adoption in Europe

Velatir, a Danish AI infrastructure startup, has raised €5m in seed funding in a round co-led by Nordic VC Spintop Ventures and Danish VC Ugly Duckling Ventures. This investment will be used to scale the company's operations across Europe. Existing investors Norrsken Evolve also participated in the round, alongside new backers such as Jan Oberhauser, CEO of n8n, and Thomas Visti, former CEO of Universal Robots.

Introduction to Velatir

Velatir was founded last year in Odense, Denmark, and has developed a platform that helps businesses manage and scale their use of AI tools. The company's CEO, Michael Blicher Sørensen, notes that the emergence of AI has introduced complexities to business processes, and Velatir aims to give companies back control and transparency over their AI tool usage.

The company has seen strong traction since its pre-seed in January, with 80 customers across 30k applications and devices. Its customers are based across the Nordics, the Netherlands, France, and the UK, and Velatir is growing 50-60% month on month, according to Blicher Sørensen.

Expansion Plans

Velatir is planning to use its new capital to expand its operations across Europe. The company is opening its Stockholm office and plans to open an office every quarter up until December 2027, with the next one likely in Paris. Blicher Sørensen believes that the company's team of 30 people will almost double by year-end.

Mid-Market Target

Velatir runs a subscription business model with flat rates depending on the industry and the number of employees. The company targets mid-market companies, with clients ranging from five employees to 20k employees. Blicher Sørensen notes that existing players like CrowdStrike and Microsoft's E7 suite are only affordable for large enterprises, leaving a gap in the market for Velatir.

The following table compares Velatir's target market with that of existing players:

Blicher Sørensen previously led technological and security audits across Meta's infrastructure portfolio of data centres. With Velatir, the founding team deliberately chose to build the platform on European-owned and hosted infrastructure, opting out of American hyperscalers.