Menowatt Ge SpA, a Grottammare, Italy-based environmental services company, raised €2m in equity funding.
Private equity firm Nem Sgr made the investment joining existing shareholder Legambiente. In conjunction with the funding, Francesco Ferrante, Walter Gaiani and Andrea Turato, Nem Sgr, will join Menowatt’s board.
The company intends to use the funds for tech development and market consolidation.
Led by co-CEOs Adriano Maroni and e Roberto Marcucci, Menowatt Ge is a certified Energy Service Company (ESCo) that provides public lighting, public lighting remote management, video surveillance, traffic monitoring, wi-fi networking, smart metering and other smart city services.