BotanoCap receives $4.2 million investment
Israeli "green" pesticide development company BotanoCap (Ashkelon) has received an investment of $4.2 million from the Chinese investment company, Infinity Group. A little less than a quarter of the investment was made through a Chinese joint venture company established under the umbrella of the Infinity-Harbin fund. BotanoCap was founded by professors from the Israeli Ben Gurion University (Beer Sheva) in 2005 and creates modified release products based on natural ingredients. It plans to use the financing for further business development in China, Europe and the US, patent applications, maintenance and regulatory affair expenses. "The funding will be used to further the development and registration of a range of products - soil treatment, field crop protection, seed treatment and post-harvest treatment," says BotanoCap chief executive officer Yigal Gezundhait. In 2007, the company received $1 million from a group of Israeli and European investors (Agrow No 514, p 2).