Save by Solar secures SEK 12M in investment capital from Blue.

Save by Solar, an Uppsala, Sweden-based company offering complete business solutions to produce solar electricity, announced that it secured SEK 12M ($1.4M) in growth capital.

The money comes from Blue, a family-owned investment company led by Anders Jacobson, and will be used to scale up operations in new regions and to further develop the company's software services for monitoring, reporting and analysis of photovoltaic systems.

Save by Solar, founded in 2014 by Linus Werner and Hugo Larsson, provides services for the local emerging photovoltaic market, with a focus on the commercial real estate niche. The company also developed a software solution that monitors and optimizes the use of facilities for return on investment, monitoring functions and automated reporting.

Save by Solar has nearly 30 employees with offices in Stockholm, Uppsala and Lund and it also plans more new branches shortly and clients include ICA Real Estate, Castellum, Swedish Commercial Real Estate, Woody Bygghandel, Willab Garden and Dekora customers.

The company is almost breakeven, at SEK 8.4M ($1M) turnover in 2016.