The Hungarian startup denxpert, which specializes in collecting, managing, and auditing environmental, health, safety, and sustainability data, has received a significant investment. As a market leader in the region, the company will use the joint investment from Óbuda Uni Venture Capital (ÓUVC) and Sofia Angel Ventures (SAV) for scaling and international expansion.
denxpert EHS&S software spun off from EY Denkstatt, one of the region’s leading sustainability consulting firms, in 2021 after 14 years, embarking on its journey as a software provider. The software offers cloud-based solutions to simplify the processes necessary for compliance with environmental, health, safety, and sustainability (EHS&S) regulations. It is already used by over 500 companies worldwide, including MOL, Telekom, Mercedes, E.On, Vantage DC, Rauch, PPF, and Vienna Airport. This area encompasses a wide range of practical knowledge, regulations, and procedures to minimize the environmental impacts of business activities, protect employee health, and ensure safe working conditions. Its relevance is more urgent than ever: starting in 2024, more than 50,000 companies in the EU will need to prepare extremely detailed sustainability reports according to the Corporate Sustainability Reporting Directive (CSRD) guidelines – and the software is one of the tools to assist with this.
“According to denxpert’s plans, it addresses an exponentially growing market demand, as changes in societal and business expectations, along with various EU and domestic regulations (CSRD, ESG law), require companies to publish sustainability data that is more detailed and transparent than ever before. I consider this seed round significant due to its scale, but the market message is also important, as it indicates the growing recognition of the corporate role of ESG,” said Róbert Szücs-Winkler, the head of denxpert.
Among the investors, this is the first investment for ÓUVC, which was founded in 2023. The venture capital firm, operating with a capital of 10 billion forints, is the first in Hungary to focus on university startups and businesses. Their co-investor, Sofia Angel Ventures, invests in pre-seed and seed-stage tech startups with the support of the European Investment Fund.