Sofia Angels Ventures has invested in denxpert, a Hungarian startup specializing in EHS&S software, to support its expansion and enhance compliance solutions amid rising demand for sustainability reporting.

Information on the Target

Sofia Angels Ventures (SAV), a venture fund with a capital of €13 million, has made a significant investment in denxpert, a Hungarian startup specializing in Environmental, Health, Safety, and Sustainability (EHS&S) software. Founded as a separate entity in 2021 after 14 years as a business unit of EY Denkstatt, denxpert provides cloud-based solutions to assist companies in collecting, managing, and reporting their environmental and sustainability data. With a rapidly growing user base of over 500 companies globally, including notable clients such as MOL, Telekom, and Mercedes, denxpert aims to address the increasing demand for comprehensive sustainability reporting, particularly with upcoming EU regulations.

The software's importance is underscored by the anticipated requirement under the Corporate Sustainability Reporting Directive (CSRD), which mandates that over 50,000 companies in the EU prepare detailed sustainability reports starting in 2024. As societal and business expectations evolve, denxpert is well-positioned to support organizations in navigating these complex requirements effectively.

Industry Overview in Hungary

The Hungarian software industry has seen substantial growth in recent years, particularly in the EHS&S sector. With intensifying global focus on sustainable practices and regulatory compliance, startups like de