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Denmark’s real estate market is nearing $ 2.65 trillion this year. The residential sector, projected to have a market volume of $ 2.17 trillion in 2024 holds the largest share in Denmark’s real estate. Growing at a CAGR of 3.65%, the residential sector in Denmark holds immense potential for PropTech innovations. The demand for smart, sustainable, and energy-efficient real estate is inspiring Danish PropTech start-ups to experiment and introduce new technologies. In 2022, investments in the Danish PropTech tripled and reached $ 200 million.
• In 2022, investments in the Danish PropTech tripled and reached $ 200 million.
• Denmark’s real estate market is nearing $ 2.65 trillion this year. There are immense opportunities for PropTech companies as only 45% of this market is digitized.
• Denmark’s top PropTech start-ups are active in the fields of property management, rental management, guest management, data analytics, tokenization using blockchain, online real estate markets, finance and investments (FinTech), LegalTech, air monitoring, energy management, and sound technology.
• This exclusive list by PropTechBuzz media features LifeX, Nordicals, DigiShares, Aeroguest, Rysta, DFE, BoligPortal, DIGURA, Sound Hub, and Ento.Â
1. LifeX
Founders: Sune Theodorsen and Ritu Jain
Founding year: 2017
Headquarters: Copenhagen, Denmark
Valuation: $ 36.5 million
Revenue: $ 144 K
Investors: TriplePoint Capital, Cherry Ventures and others
LifeX is a network of managed co-living apartments extending across Europe’s most popular cities like Copenhagen, Paris, London, Munich, and Berlin. Their digital platform removes the hassles of shifting homes or settling in a new city. Residents can choose between shared and private apartments with cutting-edge facilities and connect with other members on their custom app. The LifeX app comes with exciting features like ‘swap rooms for a weekend getaway’. The PropTech company also offers a comprehensive property management software, Felix. With Felix, businesses can manage tenant experiences, automate back-office functionalities, improve team coordination, and make data-driven decisions through custom reports and dashboards.
2. Nordicals
Founder: Erik Andresen (CEO)
Founding year: 2019
Headquarters: Copenhagen, Denmark
Revenue: $ 1 million – $ 10 million
Nordicals is a reputed financial advisory firm specializing in real estate investments. In 2019, Denmark’s top commercial real estate agency Nybolig Erhverv was rebranded as Nordicals. The move signified a greater focus on capital markets and investors, both institutional and private. The company provides a wide range of services including investments, brokerage, development, financial advice, etc.
3. DigiShares
Founder: Claus Skaaning
Founding year: 2018
Headquarters: Aalborg, Denmark
Valuation: $ 2 million (total funding)
Revenue: $ 1.4 million in 2022 (est.)
Investors: Tenity, CVX Ventures and Polymesh
DigiShares is counted among the world’s top 10 tokenization brands. The company provides tokenization services and software support for the management of real estate assets. The shares created are issued as tokens on the blockchain after a thorough review. Their software is a real estate asset management platform for issuing, managing, and trading securities on blockchain technology. The company has quickly established itself as the leading white-label tokenization platform supporting both crypto and non-crypto issuers and investors.
4. AeroGuest
Founder: Martin Sponholtz
Founding year: 2016
Headquarters: Aarhus, Denmark
Valuation: $ 6.67 million (total funding)
Revenue: $ 10.3 million
Investors: byFounders, Denmark’s Export and Investment Fund, Burrito Venture Partners, Niels Andersen, and Niels Jacobsen
Aeroguest is a SaaS start-up focused on innovating new technologies in the hospitality sector through digital adoption. The mobile-based commerce platform automates guest services from check-in to check-out. The app streamlines operations, creates mobile guest user interfaces, and controls payment transactions along with features like online check-ins and a digital key.
5. Rysta
Founders: Julia Gebert, Moritz Gruber, and Sven Eliasson
Founding year: 2016
Headquarters: Berlin, Germany
Investors: Urbantech Accelerator, High Rise Ventures, and Wayra
Rysta’s flagship air quality monitoring solution, RYSTA Protect is customized for schools, daycare centers, and universities. The IoT (Internet of Things) platform monitors indoor air quality with multisensors and generates data-driven insights through real-time analytics. The system is a favorite among the student-teacher community as it promotes healthy living and improves energy efficiency in educational institutions.
6. DFE
Founding year: 1990 (est.)
Headquarters: Copenhagen, Denmark
Revenue: $ 6 million
De Forenede Ejendomsselskaber A / S (DFE) is counted among the most prestigious real estate firms in Copenhagen. The company develops, sells, and leases residential and commercial properties including office space, retail premises, warehouses, and car parks. The company is renowned for its mega-residential and commercial projects like Nimbusparken and Valby Maskinfabrik.
7. BoligPortal
Founding year: 1999
Headquarters: Aarhus, Denmark
Revenue: $ 47.6 million
Investors: Owned by North Media
BoligPortal is a popular online listing platform for rental homes in Denmark. Owners/agents can register their residential property for free and users can shortlist properties and contact the owners/agents against a small registration fee. In 2022, BoligPortal diversified into the B2B space after acquiring Boligmanager, a rental property management software with extensive features like automated rent management, digital lease contracts, and maintenance dashboards.
8. DIGURA
Founders: Mike Vestergaard and Mads Klokkerholm Nielsen
Founding year: 2018
Headquarters: Aalborg, Nordjylland
Valuation: $ 385 K
Revenue: < $ 5 million
Investors: Kjøller
DIGURA is a LegalTech initiative with an exclusive focus on issues faced by tenants in rental properties. The platform allows tenants to input their case details digitally and receive a free assessment quickly. The software utilizes 16,500+ data points to analyze and generate legal assistance related to lease deficiencies, return of deposits, and a range of issues tenants often face while moving.
9. Sound Hub
Founders: Bang & Olufsen, Harman Lifestyle, Aalborg University, Danish Sound Network (now Danish Sound Cluster) and Struer Municipality
Founding year: 2018
Headquarters: Struer, Middle Jutland
Investors: Owned by Færchfonden and Vald. Birn Holding A/S
Sound Hub is a pioneering sound development hub located in Denmark. The company provides coworking spaces, craft clusters, and test and evaluation facilities for professionals engaged in sound and acoustics technologies. Sound technology is emerging as an important area of PropTech research and innovation. Sound Hub aims to provide a learning environment to entrepreneurs, start-ups, and researchers of sound through its extensive network and resources.
10. Ento
Founders: Henrik Brink, Kasper Bjørn Nielsen, and Malte Frederiksen
Founding year: 2019
Headquarters: Aarhus, Denmark
Valuation: $ 13.7 million (post-money valuation)
Revenue: < $ 5 million
Investors: Byfounders, Voyager, and The Footprint Firm
Ento is a cutting-edge AI-powered energy management solution that helps businesses and property owners optimize energy performance across their portfolios. Ento’s machine learning algorithms analyze data from thousands of buildings and energy projects to track energy consumption patterns, identify underlying issues and plan an effective long-term energy strategy to save costs and promote sustainability.
According to experts, there are immense opportunities for PropTech companies in Denmark’s real estate industry. So far, only about 45% of its real estate industry is digitized, and the remaining 55% is awaiting full-scale digital adoption. Leveraging this trend, Danish PropTech start-ups are focusing on property management, construction technology (ConTech), rental management, guest management, data analytics, tokenization using blockchain, online real estate markets, finance and investments (FinTech), LegalTech, air monitoring, and energy management.
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By Proptechbuzz
By Ravi Kumar
