PVcase Receives $100 Million Investment

PVcase, which designs software technologies related to solar energy, announced that it has received an investment of 100 million dollars. The $100 million investment in PVcase, a Lithuanian startup working to accelerate the transition to clean energy, came from Elephant, Energize and Highland Europe.

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PVcase Will Make New Acquisitions

The need for renewable energy is growing rapidly around the world. Especially as temperatures reach record highs, the importance of renewable energy increases even more. A Lithuanian startup has undertaken an important study on solar energy. The fact that the solar energy field was far from digitalization made it impossible to solve some problems. In the solar energy sector, there were deficiencies in operations along with the design process. In this context, PVcase stepped in and started to solve the problems. It started to offer end-to-end software technologies to companies and engineers.

Lithuanian startup will use its $100 million investment for new acquisitions. The startup, which was founded in 2018, facilitates the business processes of engineers working in the field of solar energy. While facilitating complex business processes, it also develops software that automates operation and design work. PVcase reduces the laborious design process that takes weeks to 20 minutes. The Lithuanian startup now operates in 75 countries. In June, it took a step closer to its goals by acquiring US-based Anderson Optimization.