Pest-management specialist Exosect has landed a £3.3 million investment from a consortium including Oxford Capital Partners, WHEB Ventures and the Entrepreneurs Fund. Exosect said the funds will accelerate its launch of new environment-conscious pest control products.
Exosect said the investment demonstrates the ongoing commitment of existing shareholders and reflects recognition in the investment community of market potential of sustainable approaches to pest control.
The investment demonstrates the ongoing commitment of existing shareholders and reflects the recognition by the investment community of the market potential of new environmentally conscious and sustainable approaches to pest control.
Rebecca Todd, investment manager of Oxford Capital Partners, said: :At a time when we are all becoming increasingly concerned about the way our food is produced, we are excited by the innovative tools Exosect is offering to tackle the real challenge of managing pests in a sustainable way. A challenge faced by many industries, but particularly growers and suppliers of our food. Oxford Capital has long been committed to backing the innovators in sustainable technology solutions like this and we are delighted to have Exosect join our select group of exciting investments in this sector.”
And Ben Goldsmith, founder of WHEB Ventures said the investment, gives Exosect the financial firepower it needs to to build on the hard work of the last few years. “Since WHEB Ventures first invested in late 2004, Exosect has shown in trials in over 24 countries that its’ approach to controlling insects is safe, cost-effective and simple to use,” said Goldsmith.
Exosect’s patented Entostat powder technology assists growers, producers and processors achieve zero residues in their crops and foods. To date, Exosect’s pest management solutions have been registered and launched in the UK, US, South Africa, New Zealand, and Belgium, with further EU approvals expected in the near future.
Martin Brown, Managing Director of Exosect, said: “It is important for any company at this stage to have the solid support of forward-looking investors. We have set ourselves ambitious sales targets in 2008 and beyond and look forward to continued collaborative work with key multinationals.”
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