HelioZenit raised €100,000.

HelioZenit, an Åland, Finland-based company providing solar energy solutions for home owners, raised €100,000 ($112k) in an outside investment round.

Half of the money came from Ålands Utvecklings Ab (ÅUAB), a VC company backed by the government of Åland, and the other half from 48 investors which oversubscribed an equity crowdfunding round on Invesdor. The investment was made at a €520k ($585k) pre-money valuation.

HelioZenit, led by CEO Lasse Lindgren, was founded 2008 from a spin-off project of a company specializing in the storage of solar energy on a household scale. The company has developed a product for house owners who want to generate their own renewable energy: the tracking Heliomotion Home Solar Power Plant generates electricity at full power from sunrise till sunset.