The EIC Accelerator Gave Levvel Health Money for COVID Monitoring

Few EIC winners were founded as close to their award as this one. Covid-19 Telemedicine ApS was established on 9 March 2020, according to its 2025 annual report, and registered the next day, according to North Data. Eleven days after its founding, the European Commission's March 2020 cut-off of the EIC Accelerator pilot selected it for a grant-only award. The Commission's list of selected companies names it in Nivå, Denmark, with the project title "COVID-19 Telemedicine: an infectious disease management tool for governments all over Europe that will reduce casualties from COVID-19 as well as prepare governments for the next wave of epidemics".

The grant agreement was signed on 6 July 2020. It gave the company an EU contribution of €2,434,478 towards a total cost of €3,477,825.75 for an 18-month project from 1 August 2020 to 31 January 2022, according to CORDIS. By then the company had a new name: CORDIS lists the beneficiary as Levvel Health ApS, the name it has traded under since 2020, and North Data records Covid-19 Telemedicine ApS as its former name. The EC list and CORDIS name no other partner in the project.

Where Levvel Health Stands Now

Levvel Health is still operating, but small. It filed its 2025 accounts on 30 June 2026, according to North Data, and no insolvency proceedings are listed there. The 2025 annual report shows four full-time staff on average, a net loss of DKK 2,844,075 and negative equity of DKK 19,361,754. Its management report describes the business as developing "a platform for remote monitoring and home treatment, to free up hospital beds", and says the company is in the process of signing new customer agreements and expects payments of grants from public projects, which together should secure its financing "for the rest of 2026". Neither the customers nor the grants are named.

The company website now sells the product as automation software that transfers readings from devices such as blood pressure monitors straight into electronic health records, calculates early warning scores and alerts on-call clinicians when a patient's values cross set thresholds. It offers three versions: Levvel Borger for municipal home care, Levvel Patient for regional hospitals and private practices, and Levvel Hub for makers of medical devices and health record systems. The site names no customers and no certifications.

The Technology: Triage and Monitoring From Home

The idea in 2020 was simple. Patients with COVID-19 who were not sick enough for hospital would answer clinical questions and send readings from home, and the software would sort them automatically so that nurses saw the patients getting worse first. The CORDIS objective says the platform had been "developed for COPD and heart patients over the past 6 years", was at "TRL 8" for two of its three parts, and would be scaled up "massively" with big data analysed "through AI". The company's final report says it built its patient application with integration to the OpenTele platform, so the core of the project was integration and automation work around an existing monitoring stack, not a new sensor or algorithm.

That is also what separates it from the established alternatives: Levvel's pitch is that its software is "disease and device agnostic" and plugs into the records systems hospitals and municipalities already run. The report gives no comparison of its triage against other remote monitoring systems.

What the EIC Project Promised, and What CORDIS Shows

The project finished on schedule in January 2022, and the company's own periodic report is frank about the main change. As vaccines and lockdowns arrived, "the threat to the national healthcare systems became less critical", so the project was widened to monitoring patients with Long COVID and then to subacute patients. The report lists work done: integration with health organisations' IT systems, automated deployment, training material, a clinician dashboard, device integration, a third-party penetration test, a consent engine, AI models trained on external data, and an "Open Research Data Pilot" for anonymised health data.

Its main claimed result is a pilot. A Danish regional health authority, the report says, "coined the term eHospital" for a service that monitors subacute patients in municipal beds, and the service "has since been in pilot phase with Levvel Health technology". The report does not name the region, and no region or municipality has announced the pilot or a contract with Levvel Health in any source found for this article. No government in Europe has announced a roll-out of the tool, and the Pandemic PACT grant tracker records no publications from the project.

1. Remote triage and monitoring softwareDeliveredPatient app, clinician dashboard and device integration described in the final report; product still sold on the company website.
2. Security and scale-up readinessDeliveredCapacity plan, penetration test and consent engine reported on CORDIS.
3. Big data and AI analysisPartlyAI models "trained" on external data, per the report; no results or publications made public.
4. Fully rolled-out tool for governments across EuropeNot achievedScaled back during the project; no government roll-out announced by the company or any authority.
5. Massive scale-up of home monitoringNot achievedOne unnamed regional pilot reported; staff fell to four by 2025.

What Happened After the Grant

In 2021 the company looked for customers abroad. A Danish Trade Council case study from 25 March 2021 describes meetings arranged with health authorities in the United Arab Emirates, Saudi Arabia, Egypt and Turkey, and quotes the sales director saying that without the trade councils "we would probably not have been able to arrange meetings with key decision makers". No contract from those markets has been announced. A startup directory, The Hub, still lists the company under its old name at pre-seed stage with 1 to 10 employees, and VCBacked lists a $1.9 million pre-seed round in August 2021 without naming investors; neither figure could be confirmed in a second source.

The staff numbers tell the rest. Average headcount was 13 in 2021, the last full year of the EU project, then 6 in 2022, 3 in 2023 and 4 in 2024 and 2025, according to the annual reports filed with the Danish Business Authority.

The Money

The accounts have needed correcting twice. The 2021 annual report restated 2020 because development costs had not been capitalised and the Horizon 2020 grant had not been booked correctly, and it noted "material uncertainty" about the company's ability to continue, since its costs exceeded its income. Then the 2023 annual report said the Danish Business Authority had found that the development costs capitalised in the 2020 and 2021 accounts did not meet the criteria for recognition. The capitalised costs were reversed and the grant was instead booked as income when received, which turned the 2022 loss from DKK 3.79 million in the original 2022 report into DKK 9.04 million.

The same 2023 report says the company "did not experience the expected inflow of customers to support operations", and its auditor, BDO, drew attention to a material uncertainty about whether it could continue as a going concern. The losses have since narrowed to DKK 2.31 million in 2024 and DKK 2.84 million in 2025, but equity has kept falling.

The gap has been filled with debt. Registered share capital has stayed at DKK 40,000, while convertible notes rose to DKK 14,775,683 at the end of 2025, alongside DKK 3,175,951 owed to banks and DKK 1,463,295 to related companies, according to the 2025 report. The 2024 report says more convertible loans from outside parties were raised after the year end. The lenders are not named. The company is not in the EIC Fund portfolio, which is consistent with its grant-only award.

Why Europe Should Care

The award reflects the EU's search for pandemic tools in spring 2020. The Commission's Health Emergency Preparedness and Response Authority, set up afterwards, says it was "established as a direct consequence of the lessons learned" from the early handling of COVID-19, according to the Commission. Remote monitoring that links home devices to hospital records also sits inside the European Health Data Space, which entered into force on 26 March 2025 and sets common rules for exchanging electronic health data across the EU. A European supplier of such software fits both policies; the record shows how hard it is to turn a pandemic product into a business once the emergency passes.

The Verdict

Levvel Health has not been asked for comment for this article. It is based entirely on public records, company statements and EU project data, linked throughout.