PVcase, a Kaunas, Lithuania-based -based solar software provider, raised more than $23m USD in Series A funding.
The round was led by Elephant with participation from existing investors Contrarian Ventures and Practica Capital. As a result of the investment, Elephant’s Peter Fallon will be added to the PVcase Board.
The company intends to use the funds to further the development of its products, support expansion in the U.S., and accelerate hiring remotely and at its offices in Lithuania, Spain and Germany.
Founded in 2018 and David Trainavicius, CEO, PVcase enables companies design, estimate, and optimize commercial and utility scale solar assets. The company allows its customers to deliver projects fast than their competitors by transforming complex engineering processes with a simple and intuitive interface.
Scaling out its product portfolio will include key investments in building a data-driven solar technology platform for all solar engineering needs. This includes a product pipeline to cover the entire solar project lifecycle – from sales and development to construction, operation, and maintenance.
To date, PVcase has delivered service to customers in more than 50 countries in Europe, North and South America, Asia, and Australia. Some of their clients include: BayWa r.e., Borrego, Statkraft, and Atwell Group.