Svea Solar raised SEK 160 million.

Svea Solar, a Stockholm, Sweden-based company providing end-to-end integrated solutions for capturing solar energy, raised the capital in a SEK 160 million ($18.5M) round.

The money was raised from investors from Sweden. In conjunction with the investment, Magnus Silfverberg will become a member of the board of directors, while Fredrik Osterberg and Johan Tjärnberg will join the advisors team.

Proceeds will be used to workforce employment, inventory expansion, and further investing in its platform that congregates different services for its solar cells

Svea Solar, founded in 2013 by Björn Lind and CEO Erik Martinson and later joined by Nolan Gray, develops a solar energy system helping customers capture the sun's power and produce their own energy. The company installs both PV systems, batteries, connectors and also delivers green electricity contracts — everything the customer gets a clear overview of in a single App.