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Danish startup, providing a monitoring system for temperature sensitive assets, collects €2.4M investment

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Copenhagen-born SaaS company Eupry has collected 2.4 million euros from the Danish Growth Fund and Ugly Duckling Ventures. Started out as a collaborative project between UNICEF and the Technical University of Denmark and founded by Adam Hartmann-Kruckow, Christian Elster Jacobsen, Sigurd Jervelund Hansen, Noam Ritov, and Jakob Konradsen in 2012, Eupry offers solutions to monitor temperature, Co2, humidity and differential pressure for regulated industries. The Danish Growth Fund Vækstfonden will take a seat on the board as a new investor. This investment will enable the startup to carry its operations to more lands across the globe.

Eupry receives € 2.4m investment from The Danish Growth Fund and Ugly Duckling Ventures

Eupry is a Danish tech company working to protect the supply chain of medicines and environmentally sensitive products. A fresh capital injection from The Danish Growth Fund and Ugly Duckling Ventures will help drive international expansion.

During the COVID-19 pandemic, coordination around the world was needed to ensure vaccines stored at sub-zero temperatures reached patients safely. Production and delivery were reliant on tight environmental monitoring, a regulatory requirement, which often involves manual efforts and complicated equipment. Years earlier, a team of students at the Technical University of Denmark (DTU) founded Eupry, a hardware-enabled SaaS company providing services for environmental monitoring.

Eupry, Christian Jacobsen“Back in 2012, we became aware that a great deal of medicine around the world is stored under unideal conditions – and therefore may have an inferior or no effect at all. We wanted to solve that problem, and we have been working on it ever since.” says CEO and co-founder Christian Jacobsen.

The pandemic was a turning point for the company.

Eupry, Adam Hartmann-Kruckow“We worked around the clock to send our measuring equipment by taxis to Danish hospitals, so they could ensure that the precious first vaccines were stored correctly. Our thermometers constantly monitor the temperature where the vaccines are stored, and were easy for the healthcare staff to use,” says business development manager and co-founder Adam Hartmann-Kruckow.

Today, Eupry has expanded its customer base to more than 25 countries and major life science companies. The investment will be used for international growth and to strengthen their offerings.

Vækstfonden is a new investor and will join the board.

Eupry, Vækstfonden, Nina HaldipurNina Haldipur, Senior Investment Manager at Vækstfonden, says “Safeguarding the healthcare supply chain is of critical importance to society. Eupry is addressing the needs of an aging and growing population, and an increased demand for a reliable cold chain. We are impressed by the founding team’s innovative offering, purpose-driven leadership, and track record. Vækstfonden is excited to collaborate with Eupry as they support sustainable healthcare delivery and Denmark’s leading position in health tech.”

Ugly Duckling Ventures have been investors and on the Board for over a year.

Eupry, Ugly Duckling Ventures, Andreas RasmussenAndreas Rasmussen Co-founder and GP at Ugly Duckling Ventures says, “Having worked in close collaboration with Christian and the rest of the founder team we have been impressed with the transparency, responsibility and perfomance-focus the team has shown, as well as their ability to make the right decisions – even in difficult times. Eupry continues to perform according to plan and we are excited to continue our journey together as co-leading investors in their SEED round.”

Click here to read more funding news.

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Nurcin Metingil
Nurcin Metingil
A permanent student, a passionate first reader and nowadays doing master’s degree in Publishing Management. Beside these, I am up for games! I have been playing games since I was 6. Now, I am whispering "Business. Business. Numbers. Is this working?"

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