The deal, which includes financial support from existing backer Investec, will be used to continue the company’s expansion and boost its UK presence, AMCS said.
AMCS was founded in 2004 and had a 50 per cent increase in turnover to €18m for the 2013 financial year, following another 50 per cent increase the year before.
The company allows customers to track, manage and weigh waste by reading a special chip inserted into bins and other waste containers.
Highland partner Fergal Mullen said, “AMCS is exactly the kind of high growth, world leading technology company we aim to invest in with our new European Technology Growth Fund.
“We look for compelling founding entrepreneurs who have the ambition to build world-class technology companies and will bring all our experience and resources to bear in helping Jimmy and Austin achieve their vision.”
The investment is Highland Capital Partners Europe’s first since it established its Dublin office in April last year.
Copyright © 2014 AltAssets