Danish Startup Propane Secures €1 Million In Pre-Seed Round

The round saw participation from EIFO, Heartfelt, and prominent 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Founded in 2025, Propane is building an AI-native insights engine designed to replace outdated and fragmented customer data systems. Positioned as a next-generation Customer Data Platform (CDP), Propane moves beyond traditional surveys and legacy tools by continuously learning from a wide range of customer and company signals. This enables 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.

Propane argues that most companies still rely on outdated survey tools or NPS systems that store data but fail to learn from it or support real-time decisions. In contrast, Propane’s AI-first infrastructure is designed to deliver continuous intelligence, giving product and growth teams instant access to actionable insights.

“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 recognise Propane’s potential to reshape how European companies understand their customers and markets. The pre-seed round attracted notable backers, including EIFO and high-profile angels such as Asbjoern Malte Soendergaard (Tactile Games), Jack Piunti (ElevenLabs), Jens Karstoft (Neurons, Zmags), Benjamin Rej Notlev (TechBBQ), and the team behind 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.

Propane’s mission to turn speed into a competitive edge aligns with a growing shift in customer data innovation. In a crowded, data-rich environment, the companies that can quickly turn customer signals into action are poised to lead.

With few AI-native customer intelligence platforms in Europe, Propane sees a strong opportunity to drive this transformation across 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 will use the funding to accelerate product development and expand its initial customer base, beginning with voice-driven AI interviews as the first step in its platform rollout.

About Propane

Propane is building the AI-native operating system for Customer Intelligence, enabling fully automated customer research. AI agents conduct voice or chat interviews, triggered by CRM or analytics data, with built-in incentives. Use cases include churn analysis, NPS follow-ups, product adoption feedback, and in-app discovery interviews—all tailored for deeper, faster insights.