Highland Capital Partners Europe was the lead investor in the fundraising round which raised €23.5 million equity investment for AMCS Group. Based in Limerick, Ireland, AMCS Group provides the recycling and waste management industry with integrated environmental software and solutions.

An investor of the fast-growing internet, mobile and software firms in Europe, Highland Capital Partners Europe has annualized revenues of €10 million. Its team of eight people is part of the venture capital firm Highland Capital Partners based in Boston.

AMCS Group's existing investor Investec also joined the latest fundraising round. Proceeds from the round will allow the business to push through with its plans for global expansion. It will also add 20 more jobs in the UK to strengthen its presence in the region where the annual waste management market is estimated to be worth £10 billion, a statement about the deal said.

Founded by Jimmy Martin and Austin Ryan in 2004, the AMCS Group has a workforce of 135 spread out in the UK, Ireland, France, Sweden and North America. For the 2013 financial year, it posted a 50% rise in turnover to €18 million. It also had a 50% increase the year before. The ELEMOS software solution developed by the firm is a one-of-a-kind way to monitor, manage and weigh waste through a specialist chip placed in bins and containers. The company said 700 international customers use their solution to give 9 million homes waste management services.

AMCS Group Chief Executive Officer Jimmy Martin said in the statement, "Securing funding of this scale will enable us to drive forward our plans to grow our business and expand our operations in existing and new markets. There really is no business that can match the integrated waste management solutions that our ELEMOS software and vehicle technology offers. We look forward to working with our new financial partners, Highland Capital Partners, as we continue our ambitious growth plans."