EIVEE
The business, the turning points, and the decisions behind them.
01 / WHAT IT BUILT
What the company did
EIVEE was a Copenhagen-based B2B SaaS company founded in 2020. It offered a carbon-accounting platform powered by procurement data: calculating companies' greenhouse-gas emissions and producing audit-ready sustainability reports, serving some of Denmark's largest companies and partnering with Danske Bank to make climate reporting easier for business customers.
02 / EIVEE FAILURE REASONS
Failure factors
Danish carbon-accounting software company Eivee entered rekonstruktion (in-court restructuring), citing the latest accounts’ double-digit-million DKK deficits on operations, bottom line, and equity after having raised ~DKK 30m from a fund. Danish CVR-sourced accounts (find-virksomhed/proff; amounts in DKK thousands) show 2023 årets resultat −33,146 and egenkapital −31,061 (vs 2022 −22,787 / +338). Management’s 2023 årsrapport notes (via grundigt.dk) called the loss unsatisfactory but expected and said the company was seeking further funding with runway into early 2025; restructuring then failed into konkurs weeks later.
latest accounts showed double-digit-million DKK deficits on operations, bottom line, and equity; CVR-sourced 2023 result −DKK 33.1m and equity −DKK 31.1m.
management said it was finding additional funding and then had runway only until beginning of 2025 without further funding; company entered rekonstruktion in Sep 2024.
03 / EVENT HISTORY
Events in the structured record
- Asset restructuring
EIVEE entered restructuring in September 2024.
- Bankruptcy
The court opened bankruptcy proceedings on 22 October 2024 after restructuring was discontinued.
04 / CONTEMPORARY REBUILD ASSESSMENT
Difficulty of rebuilding this project today
Material for this section is being gathered and checked. It will appear here once ready.
Overall assessment: Not completed
05 / CAUSAL CHAIN
How the factors connect
- 01
B2B SaaS for carbon accounting via procurement data
- 02
Partnership with Danske Bank on climate reporting
- 03
Reconstruction proceedings begin in September 2024
- 04
Bankruptcy in October 2024; Normative acquires Eivee in November