Bionema raises £180k from private investors and Development Bank of Wales to advance biopesticides
The funding round was led by private investors alongside co-investment from the Development Bank of Wales.
Share allotment filed at Companies House
Bionema develops and markets natural bio-pesticides for the agri-food sector to reduce reliance on chemical crop treatments.
Bionema has secured £180k in a fresh equity funding round led by private investors alongside the Development Bank of Wales. The Swansea-based biotechnology developer will direct the capital towards accelerating its product development and regulatory registration processes as it scales operations in the agri-food sector.
Crop pests and pathogens inflict more than £361.7bn in agricultural damage globally each year, driving demand for sustainable alternatives to synthetic chemicals. Bionema plans to launch its latest bio-insecticide products by 2021, targeting a global biopesticide market projected to exceed $6.4bn by 2023.
From the founder
"We are really pleased that the Development Bank of Wales, private investors, and our overseas existing investor recognise our potential and our achievements to date, as we capitalise on the industry drive to reduce dependence on chemical pesticides with safe and sustainable solutions. This additional investment will accelerate ongoing product development and take advantage of the growing biopesticide market"
Minshad Ansari
Founder and CEO at Bionema
Investor perspective
"Bionema has developed a natural solution that will combat major crop pests. This is the future of crop protection industry, as the power of natural micro-organisms is slowly coming to reality and filling the gap where chemical pesticide has been banned."
Karl Wills
Managing Partner, KMCE
Use of funds
- 01Fund research and development
- 02Continue product development
