The Green Way, an Israel-based environmental management company, has secured between $15 and $20 million in second round funding from Shaked Global Group.
Shaked Global also took part in TGW’s first funding round in May, contributing $1 million. Its stake values TGW at several tens of millions of dollars, according to Globes.
Founded in 1997, TGW provides a range of consulting and implementation services for landscaping, irrigation, erosion prevention and waste and wastewater treatment. It also collaborates with tech companies that specialize in the field of environmental preservation to design cost-effective solutions for a range of small- to medium-scale commercial, industrial and public infrastructure projects, such as parks, hotels and utilities.
Though based in Israel, it operates in Cyprus, Turkey and in the United States. It currently employs over 100 workers and has seen a significant expansion of its market share over the last few years. Its diversified portfolio — particularly the services it provides for the water sector — ensures it still has solid room to grow in Israel and worldwide as it extends its reach.
As we’ve mentioned before, Israel has become a new cleantech hub in recent months, with start-ups like Shai Agassi’s Project Better Place, Solel and Aqwise garnering lots of attention and, more importantly, cash.