Industrifonden et al. invest SEK 9m in SEEC

The funding round follows an investment in the company by STING in November 2010. Industrifonden has provided SEK 5m in the latest round that will support further marketing and sales development.

SEEC is looking to grow both in the Swedish and export markets and its product was commercialised three years ago.

Company
SEEC was founded in 2006 and is a developer of energy stores with energy modules for large buildings. The technology is said to reduce energy costs by around 90% by storing energy for heating and cooling underground. SEEC is headquartered in Stockholm.

In 2010 the company generated a turnover of approximately SEK 2.7m.

People
Anders Schelin worked on the deal for Industrifonden. Martin Gemvik is investment manager at STING Capital.

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