Lithuania: Software startup PVcase secures USD 100mn investment

The Lithuanian developer of solar project design software, PVcase, has secured USD 100mn (EUR 90mn) of new funding from international investors, pv magazine reports. Existing investor, Boston-based Elephant VC, Chicago-based Energize Ventures, and London-based Highland Europe participated in the funding round. This is the second-largest investment ever in Lithuania’s startup sector, Baltic News Network reports. PVcase will use the funds for expansion and product development. The company has raised altogether USD 123mn in investments since its launch, reports.