Trondheim-based Ei Solutions, a tech company helping commercial real estate owners reducing risk and increase green potential of their properties through simplification and automation of EU-taxonomy due diligence, has successfully raised €1.2 million in 2024 while achieving high revenue growth. This funding is a combination of two investment rounds, customer revenue, and support from Innovation Norway.
Among the investors are players from the real estate sector such as Bane Nor Eiendom and PWS Eiendom, as well as venture groups like Styx, Spike Venture, and angel investors such as Trond Riiber Knudsen, Thomas Falck, and Isak Oksvold. The company has received grants from Innovation Norway through an Innovation Contract and startup loans.
At the same time, the company’s tools have been well-received by the market. The startup has surpassed €260k in revenue in 2024, and by September, the company expects to reach an annual recurring revenue (ARR) of just over €430k, marking a 733% growth since December 2023.
Gustav Haaland, CEO and co-founder of Ei Solutions, expressed great satisfaction with the completion of the funding round: “We owe a huge thank you to all our supporters, and it’s incredibly exciting to be past the so-called pre-seed phase! What we’re most satisfied with is the interest we’ve received from the market. Ultimately, it’s the customers in the real estate industry who decide which tools survive, and when it comes to sustainability, it’s the practical solutions that matter.”
Innovative Solution in a Fragmented Market, and Clear Signs of Quality Trond Riiber Knudsen, an angel investor and early supporter of the company, praised Ei Solutions’ development: “The market for ESG solutions has long been unclear, but Ei has managed to stand out, find its niche, and is now helping to shape an entirely new category of industry-specific tools. The company has first and foremost shown tremendous progress, where the commercial interest the company has garnered at this stage speaks for itself. When customers choose to invest themselves, it shows that the team has hit the mark with a solution that the market eagerly adopts.”
The funding round was completed in two tranches, with the larger part closing in July. Already during the first phase of the round, which concluded before Christmas, the company had to turn down several interested investors. Now, Ei Solutions is once again experiencing significant interest from both new and existing investors.
Marit Bjerkreim, co-founder and active chair of the board, commented on the increased interest: “With the growth we can now showcase, and with what we have in the pipeline, we’re seeing great interest from investors, both Norwegian and international. Ultimately, nothing beats traction.”
With the success of this round, Ei Solutions continues to gain momentum and is positioning itself for further growth. The company is onboarding new customers this fall, preparing for a major product launch, and undergoing a complete rebranding.
Read the orginal article: https://www.eu-startups.com/2024/09/norwegian-tech-company-ei-solutions-raises-e1-2-million-to-help-real-estate-increase-its-green-potential/
