Setterwalls has advised Echandia in connection with an investment round of SEK 325 million

Setterwalls has advised Echandia Group AB in connection with an investment round of SEK 325 million. Leading investors in the investment round were Alantra/Klima, Industrifonden, S2G Investments and SEB Greentech VC, who became new shareholders.

Echandia is active in maritime battery systems and has deliveries and orders for over 90 systems to electrification projects worldwide. The financing shall be used for the company’s global expansion and increased production capabilities in Sweden and the US.