Exosect wins funding for European roll-out

Environmentally friendly pest control specialist Exosect has secured £2.25 million of venture capital to bring their products to market.

Investors in the fundraising include MTI Partners, which has contributed £1 million, as well as Wheb Venture Partners, Oxford Capital Partners, Hygea VCT and Entrepreneurs Fund Management. Funds invested in the Southampton university spin-out now exceed £5 million.

Exosect is to launch a moth control product in the UK this month. It plans to release the product in Germany, France, Holland and Italy before summer.

David Ward, managing partner at MTI, says interest has been shown in Exosect’s technology by large agrochemical companies.

Adds Ward, ‘Most importantly as an investor, it is exciting to see the potential deal flow that is being lined up over the coming months.’

Nick Britton

Nick Britton

Nick was the Managing Editor for growthbusiness.co.uk when it was owned by Vitesse Media, before moving on to become Head of Investment Group and Editor at What Investment and thence to Head of Intermediary...

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