New investment for Macclesfield’s Redag Crop Protection after equity fundraising

Macclesfield based Redag Crop Protection have completed an initial £1.6m equity fundraising as part of a larger financing round, which was supported by KPMG Acceleris, the venture capital advisory company.

The investment will accelerate the development of their crop protection products which will be vital in the ongoing efforts to support food security, globally.

Redag Crop Protections core business involves developing agrochemicals to help sustainable food production.

This round of fundraising has been supported by existing shareholders and high net-worth investors and will help drive forward their agrochemical discovery programme, Project Evolve.

Bill Thompson, chief executive of Redag Crop Protection said; "This successful fundraising from our supportive investor base will enable us to accelerate the unique intellectual property position created by Project Evolve."

KPMG Acceleris managing partner Simon Thorn lead the fundraising effort, which was the companies first since FCA approval in November.

Thorn said "Thorn said: "Bill and the team at Redag Crop have built something really special. The business is a standout innovator in the sector that is pushing the boundaries of sustainable food production. The fundraising provides vital capital to fuel the development and commercialisation of its cutting-edge crop protection products.

The fundraising was led by Simon Thorn, managing partner of KPMG Acceleris.

Thorn said: "Bill and the team at Redag Crop have built something really special. The business is a standout innovator in the sector that is pushing the boundaries of sustainable food production. The fundraising provides vital capital to fuel the development and commercialisation of its cutting-edge crop protection products.

"We're proud to have worked with Bill and the team at Redag Crop since it was a start-up and are thrilled to continue that support as it takes this next step at what is an incredibly important time as the battle to support food security intensifies. Redag Crop provides an exciting opportunity for our network of investors to back an ambitious and proven leader in its field and invest in a business that is addressing a global challenge facing society."