Danish startup Propane secures €1 million to develop AI-powered customer intelligence platform

Copenhagen-based Propane, a new entrant in the European AI scene, has announced a €1.2 million pre-Seed round as it sets out to build what it calls the “Operating System for Customer Intelligence”.

The funding round attracted backing from EIFO, Heartfelt, and several notable angel investors including Anton Osika (Lovable) and Morten Wulff (GameAnalytics).

“For us, this funding fuels a bold mission. We’re not here to build another survey or AI interview tool! That’s just the starting point. The real ambition is to fix the broken customer intelligence stack. As an AI-native team, we can do much damage in the market. With a founding crew from Pleo, Neurons, Brandwatch, and more, we’ve built million-dollar businesses from the ground up before.

“Now, backed by key investors in the Nordics and EU, we’ve got the momentum to do it again, bigger, and with a global mindset,” shared CEO & Founder Dennis Green-Lieber with EU-Startups.

Founded in 2025, Propane is developing an AI-native insights engine, positioned as a next-generation Customer Data Platform (CDP), aimed at replacing outdated, fragmented customer data systems. Instead of relying on traditional survey-based tools and legacy stacks, Propane’s platform promises to actively learn from a broad spectrum of customer and company signals – allowing teams to capture, connect, and act on insights in real time.

“For 15 years, I witnessed mostly minor innovations in our stack. Now, AI is driving a major overhaul of the traditional, siloed tools and static data approach; it just doesn’t cut it anymore. Those who adapt will thrive, while those who don’t change will get left behind. The winners will be AI-native teams that revolutionise how we handle customer data and gain a deeper understanding of their markets faster than their competitors,” said Green-Lieber.

According to Propane, companies today are stuck using slow-moving survey systems or net promoter score (NPS) tools that, while useful for storing data, lack the capability to learn from it or drive immediate decision-making. Propane’s AI-first infrastructure is purpose-built to deliver continuous intelligence and make actionable insights instantly accessible for product and growth teams alike.

“Propane is building the customer intelligence infrastructure for modern product organizations, starting with AI-powered, voice-based interviews. The team, led by second-time founders with deep domain expertise, has demonstrated remarkable speed and drive. We believe their long-term vision is perfectly timed with the market’s shift toward dynamic, continuous intelligence systems. We are confident in their ability to execute and are thrilled and proud to support them on this journey,” said Joerg Rheinboldt, General Partner at Heartfelt.

Investors see Propane’s potential to disrupt the way European companies understand their markets. Notably, EIFO and several high-profile angels joined the round, including Asbjoern Malte Soendergaard (Tactile Games), Jack Piunti (ElevenLabs), Jens Karstoft (Neurons, Zmags), Benjamin Rej Notlev (TechBBQ), and the team from Founders.as.

“Fully automated, deeply contextual, and powered by agentic AI, Propane’s platform enables companies to conduct end-to-end qualitative interviews at scale, with precision and authenticity. Founded by an experienced and execution-driven team with deep domain expertise, we believe Propane has the potential to become a category-defining player within customer intelligence. This is the kind of innovation Europe needs to compete in the global AI race, and that is why we are backing Propane,” said Mathias Kaasgaard, Investment Manager at EIFO.

The startup’s mission to turn speed into a competitive advantage reflects broader trends in customer data innovation. In an increasingly noisy and data-heavy landscape, those able to translate customer signals into fast decisions are expected to dominate.

Propane sees Europe as fertile ground for this transformation, given the relative scarcity of AI-native customer intelligence players on the continent.

“My focus is on true AI-first companies, those that embed AI into every part of the business. Propane stood out immediately. They’re building an AI-native insights engine, like a next-gen CDP – that compounds intelligence from every customer and company signal, growing smarter over time. It enables teams to instantly get concrete answers to the questions that matter for both product and growth teams. That’s why I’m investing and stepping in as Chairman,” said Morten Wulff, Chairman and Investor at Propane.

Propane plans to use the funds to accelerate product development and grow its early customer base, starting with voice-based AI interviews.

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