Dcycle, the leading Spanish platform for sustainability data management, has announced the acquisition of 100% of ESG-X, a Munich-based software company specializing in AI-powered sustainability reporting solutions. This strategic move represents a decisive step in Dcycle’s European expansion and positions the combined entity as a key player in the ESG software market, which is currently undergoing a phase of consolidation.
The acquisition brings together two complementary capabilities that are essential for the European market: Dcycle’s robust infrastructure for non-financial data management and ESG-X’s advanced AI technology for double materiality assessments and regulatory compliance in corporate sustainability.
With this integration, Dcycle now offers specialized local support in Spain, Germany and the United Kingdom — three markets that account for the majority of European regulatory requirements for sustainability reporting.
Founded in Munich through the Antler accelerator program, ESG-X has built a strong reputation thanks to its proprietary AI models capable of automating materiality assessments and mapping companies’ existing data against ESG requirements. The company’s data infrastructure, fully hosted in certified data centers in Germany, meets the strict data residency requirements demanded by companies in the DACH region.
“The European ESG software market has clearly entered a phase of consolidation,” said Juanjo Mestre, CEO and co-founder of Dcycle. “With more than one hundred solutions competing to solve isolated parts of the problem, the fragmented model no longer meets the real needs of the companies we serve. Our vision is clear: the only way to scale sustainability data efficiently is through integrated platforms that allow companies to truly own their data infrastructure. This acquisition is not about accumulating companies, but about building the best possible product for our customers.”
Germany represents a strategic priority for Dcycle as one of Europe’s most mature and demanding ESG markets. The German industrial mid-market ecosystem faces the same regulatory pressure as large listed companies, but without an appetite for oversized enterprise solutions.
The ESG-X team, based in Munich and Düsseldorf, brings deep knowledge of the regulatory requirements of the DACH region and a pragmatic understanding of mid-market challenges.
The integration strengthens Dcycle’s platform across several critical dimensions:
These capabilities complement Dcycle’s existing strengths and certifications. Dcycle holds TÜV Rheinland ISO 14064 certification, ensuring that all software processes are fully auditable, as well as ISO 27001 certification, guaranteeing the protection and security of both company and customer data.
The platform covers the full spectrum of non-financial ESG data, including Scope 1, 2 and 3 carbon footprint calculation, life cycle analysis (LCA), product carbon footprint and non-financial reporting. It also provides comprehensive supply chain emissions tracking and Scope 3 management, multi-framework reporting capabilities covering CSRD, MITECO, GRI and SBTi, as well as energy management solutions supporting ISO 50001 compliance.
Both teams share a common vision: siloed reporting does not scale. The future lies in providing companies with a single workspace to manage all their non-financial information in order to fully control their business — not only to comply with regulation.
“Today, most companies collect the same data repeatedly from the same sources, without using it or connecting it across teams, projects or decisions,” said Mestre. “That fragmented approach does not scale and does not create real value. We are building a different model: a workspace that connects data, people and projects so that ESG information becomes a true driver of revenue, management and decision-making.”
ESG-X was founded by three complementary profiles united by a shared conviction that ESG data management must be modernized, rigorous, scalable and truly useful for decision-making:
All three founders will join Dcycle’s team, contributing their experience and local market knowledge to accelerate the company’s expansion in the DACH region.
This transaction reflects the ongoing consolidation of the European ESG software market. Following its Series A round in December 2024 led by Samaipata, Dcycle continues to pursue disciplined growth through organic expansion and the selective integration of complementary capabilities.
“The combination of structured data, artificial intelligence and an integrated platform is not just an incremental improvement — it is the model that will inevitably dominate the non-financial data market in the coming years,” concluded Mestre. “This acquisition is a decisive step toward leading that transition in Europe.”
Dcycle is a Madrid-based B2B SaaS platform that enables companies to centralize, manage and operationalize their data. Founded in 2020 by Juanjo Mestre, Jacobo Umbert and Luis Escámez, Dcycle serves more than 2,000 customers across Europe, helping them collect, validate and use every data point needed for each team to drive and communicate non-financial performance.
Dcycle is the first software in Spain certified by TÜV Rheinland for carbon footprint calculation under ISO 14064 and has been recognized in the ESG FinTech100. The company has raised more than €10 million from investors including Samaipata, Ship2B Ventures, Sabadell Venture Capital, Draper B1 and Angels Capital. In 2025, Dcycle’s three founders were included in the Forbes 30 Under 30 list.
More information: www.dcycle.io
ESG-X is a Munich-based ESG management platform specializing in AI-powered sustainability reporting for CSRD and VSME compliance. Founded through the Antler accelerator program, ESG-X has developed proprietary databases and language models that automate materiality assessments, map companies’ existing data to regulatory requirements and help close data gaps.
The company’s infrastructure is fully hosted in certified data centers in Germany, meeting the highest standards of security, data protection and GDPR compliance, with AI technology developed in line with the European AI Act. ESG-X serves mid-market companies across the DACH region from its offices in Munich and Düsseldorf
More information: www.esg-x.com
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