SAV Invests in a Hungarian Sustainability Startup, Which Raises €1M in Seed Funding

Sofia Angels Ventures – New Investment Press Release

Sofia Angels Ventures (SAV), a €13M venture fund backed up by EIF for angel and private co-investment, headquartered in Sofia, is pleased to announce its latest investment – denxpert.

A significant investment has been made in denxpert EHS&S software, a Hungarian startup that helps companies collect, manage and report environmental and sustainability data. The regional market leader will use the joint investment from Óbuda Uni Venture Capital (ÓUVC) and Sofia Angels Ventures (SAV) to scale and expand internationally. The investment of SAV is supported by InnovFin Equity, with the financial backing of the European Union under Horizon 2020 Financial Instruments and the European Fund for Strategic Investments (EFSI) set up under the Investment Plan for Europe. The purpose of EFSI is to help support financing and implementing productive investments in the European Union and to ensure increased access to financing.

In 2021 after 14 years of being a business unit of EY denkstatt, one of the leading sustainability consultancies in the region, denxpert spun off as a separate SaaS provider. Offering cloud-based solutions to streamline compliance with environmental, health and safety and sustainability (EHS&S) regulations, the software is already used by more than 500 companies worldwide (MOL, Telekom, Mercedes, E.On, Vantage DC, Rauch, PPF, Vienna Airport). The software’s relevance is more pressing than ever: in the EU alone, from 2024, more than 50,000 companies will have to produce highly detailed sustainability reports under the Corporate Sustainability Reporting Directive (CSRD) guidelines – and the software, among others, will help them to do so.

Denxpert plans to meet an exponentially growing market demand, as changing social and business expectations and various EU and national regulations require companies to publish more detailed and transparent sustainability data than ever before. I consider this seed round to be outstanding not only for its scale, but also for its market message, signalling the recognition of the increasingly prominent role of ESG in business.” – said Róbert Szücs-Winkler, CEO of denxpert.

This is the first investment by ÓUVC, founded in 2023. The HUF 10 billion venture capital firm is the first in Hungary to focus on university startups and enterprises. Its co-investor Sofia Angels Ventures invests in pre-seed round and seed round tech startups with the support of the European Investment Fund.

More information:
Fehér Csaba
CMO
+36 30 626 5453
feher.csaba@denxpert.hu
https://denxpertsolutions.com/hu/ and
https://www.csrdsoftware.com/

Background information
Denxpert’s vision is to become the most widely used EHS&S support software in the world. ÓUVC and SAV’s investment will contribute to the realization of this vision, in addition to financial support, through the mentoring of renowned experts such as Imre Hild, venture capitalist, and Dr. Levente Kovács, Rector of Óbuda University.

The potential of denxpert is demonstrated by the fact that in just a few years of operation they have won several awards, including the Smart Innovator award from tech consultancy Verdantix, and have been shortlisted for the Environment Analyst ESG Innovation Award (to be presented in early July).

June 2024

Sofia

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