We are delighted to announce our first investment from the Impact Life EIS Fund that we closed at the end of March.
Many of you will be aware of the controversies around Glyphosate, (Roundup), the weedkiller. It is banned in the EU from December of this year and will stop being sold in the US next year. Our new investment Weedingtech overcomes these environmental issues by killing weeds with a jet of steam encased in a biodegradable foam. They have developed both the equipment as well as the consumables that go with the system. The costs are a fraction of manual or mechanical alternatives and they have traction and distribution partners around the World. They already turnover more than £2 million per year and are raising for the next phase of their expansion as the legislation kicks in. We are delighted to invest in such an interesting business at a key time in its development that fits so well with our Impact ethos.
In addition to Boundary Capital investing in their £1.3 million funding round, Weedingtech are keen to offer Boundary investors the chance to invest up to another £200,000 in this raise which would be a single company EIS investment. If any investors are interested please get in touch for further details.