[ad_1]
PVcase team. Company photo
PVcase, a start-up in the development of solar energy software, has attracted 20 million. Investment in euros in the financing phase of the venture capital fund of the main investor Elephant VC and others.
The company plans to use the capital raised for development in the US and to hire employees in Lithuania, Spain and Germany.
As the world makes the transition to renewable energy, it is important to create the tools to design and implement the necessary infrastructure more quickly. We want to be involved in the entire life cycle of a solar power plant, from sale, design and construction to operation and access. This investment will allow you to invest in new products and rapidly grow a team of companies that believe in this technology, quotes David Trainaviius, director of PVcase, in the report.
According to him, the number of PVcase team members is expected to more than double to 200 employees by the end of next year.
Elephant VC partner Peter Fallon will join PVcase’s board after the completion of the Series A funding phase, which also involved previous investors Practica Capitalbei Contrarian Ventures.
PVcase silo graphs automated design system for Autocad vaccine, which allows a more precise design and optimization of global energy parks. According to the startup, its software is used by leading European and global solar energy companies, including Toshiba, Grupotec, Soltec, Sundt, OHL Industrial.
It is important that PVcase plans to become a unicorn in the next 5 years. Last year, the starter more than doubled sales revenue to 1.6 million. Eur, indicated in the financial statement presented to the Center by the Registry.
According to the company, actual sales revenue was at least several times higher and amounted to about 3.5 million. Since the business sells software as a service to businesses, revenue is recognized on an accrual basis and recorded when earned, regardless of when it is received.
Sorainen, a law firm that advised Elephant VC, says the investment is the largest startup of this type of software in Europe.
20 million Eur is the second largest investment attracted in financing stage A in Lithuania. More In Phase A, Interactio only had remote simultaneous translation services.
[infogram id=”a8a8dbbe-d977-4689-a530-ca6588971f26″ prefix=”qVL” format=”interactive” title=”Didiausi Lietuvos startuoli A serijos raundai”]Prajusi savait 43 million. Eurrizikos capitalo injekcij gavoir pinig perlaid bendrov TransferGo.
Select the companies and topics that interest you. We will inform you in a personal newsletter every time they are mentioned in Business News, Sodra, Registr centers, etc. sources
Rayti komentar
[ad_2]
