CORRECTION - SyndicateRoom: Making Peanuts Pay
ToxiMet, the maker of Mycotoxin testing equipment sold to food exporters throughout the world, has raised over £1.5m of the £1.57m being sought via equity crowdfunding platform SyndicateRoom.
Mycotoxins are chemicals produced by natural-borne moulds that can grow on crops and, in large quantities, can be extremely toxic - at worst is linked to DNA damage and liver cancer. Mycotoxins are found in everyday goods such as cereals, coffee, dried fruit and peanuts.
ToxiMet, with their device ToxiQuant, allows food producers in the emerging economies to win coveted high-priced export markets of the EU, US and Japan by ensuring they meet strict regulatory standards. The presence of Mycotoxins accounts for up to 60% of food and feed rejection at EU borders.
ToxiQuant can be deployed on site (it can fit in the back of a landrover) and does not require a highly trained operator and more importantly can return results in as little as 10 minutes.
ToxiMet's key target market is India, where the export market has grown from $5bn in 2003 to $29bn in 2015 and is expected to continue to grow. With proven cost and time reductions ToxiMet is finding the market receptive to their product and a recent sales trip to India resulted in sales to three principal producers including VNKC AGROCOM.
Recently, Tilda Rice conducted an in-service trial for some 3 months, including comparison with an external service laboratory. Following excellent results on a sustained basis, Tilda confirms, to ToxiMet, their decision to choose ToxiMet for their Aflatoxin control. The decision has now been passed to their finance department and is subject to agreeing contractual details around importation mode. The overall pricing of the contract has already been agreed.
Ian Sanders, ToxiMet CEO says: "ToxiMet looks forward to being part of our clients' primary value delivery to their customers in the future, not merely a secondary consideration. We are proud to be a key part of creating sustainable prosperity in the Emerging Economies."
The product and revenues generated have caught the eye of Mill Venture Partners, the team behind the Mill Residential REIT - who made history as the 1st crowdfunded IPO to list on AIM. Helios Enterprises LTD are leading this syndicate. Other investors can invest from £1,000 upwards on exactly the same class of shares and share price as the lead investors via SyndicateRoom.
EIS eligible Shares are being offered through equity platform SyndicateRoom.
Case study: Making Peanuts Pay here
Notes to Editors
About SyndicateRoom
SyndicateRoom is an online equity crowdfunding platform that allows its members to co-invest alongside experienced angel investors in highly sophisticated investment opportunities, and on the same economic terms as the lead investors (i.e. they are offered the same share class and price per share). SyndicateRoom was founded by Gonçalo de Vasconcelos and Tom Britton, and its own lead investors and advisers are UK Business Angel of the Year Peter Cowley and super-angel Jonathan Milner.
SyndicateRoom is authorised and regulated by the Financial Conduct Authority.
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