August 7, 2024

Danish AI startup 2021.ai raises DKK 28m from Det Norske Veritas in a bridge funding round (Press Release)

Press Release
Det Norske Veritas (DNV), the world's largest classification company, has become a new partner and investor in Danish AI startup 2021.ai. The investment was made through DNV's venture arm, DNV Venture, during a bridge financing round with existing investors. According to Mikael Munck, CEO and founder of 2021.ai, the company is also planning a significant financing round in Q1-2025. In the current financing round, the Danish AI firm raised a total of DKK 28m from existing investors and DNV. The company has previously received investment from UAE-based venture fund Visor Ventures. The company's offering consists of a combination of AI consulting services and an AI infrastructure SaaS platform. According to Munck, the company expects to grow revenue to DKK 45-55m and reach EBITDA of DKK 15-17m in FY24E. Today, approx. 80% of revenue is considered ARR/subscription-based. DLA Piper acted as the legal advisor to the sell-side in connection with the transaction. In April 2024, NKP first and
Transaction announcement
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NKP | M&A Insights Proprietary
Early coverage by NKP | M&A Insights (headline)
April 19, 2024

2021.AI, a Danish tech firm offering applied AI consulting and a SaaS offering focused on governance, risk & compliance (GRC) for AI, experiences strong growth and expects revenues of DKK ~50m (+50% YoY) and EBITDA of DKK +15m in 2024E - owners are considering an equity round in H2-2024 to fuel international growth (NKP Proprietary)

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NKP | M&A Insights Proprietary
Early coverage by NKP | M&A Insights (headline)

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