Our latest winning campaign is a mould-borne toxin testing system that’s trying to raise just over £180k via the SyndicateRoom platform.
Food is one of those necessities of life. So much so that it is very easy to stop thinking about where it comes from, or what it really is beyond the supermarket shelf from which it’s been purchased. However, the old adage 'you are what you eat' is inescapably true and you don't have to spend long in a less developed nation to realise that if you are not careful about what goes in, you won't like what comes out! Luckily for those living in more developed areas there are all sorts of governing bodies monitoring the food that is sold to the public to make sure that they are protected.
Everyone has seen the mould that occurs on food not eaten quickly enough and very quickly throw it away while holding it at arms length and making a face of disgust. However, some fungus are far more difficult to detect, certainly beyond the scope of a consumer, and often beyond the food producer. One of these, known as mycotoxin, requires that food samples be sent out to a lab, tested by scientists and then either cleared for distribution or disposed of. This process takes significant time and money – driving the price up for the end consumer. Here is where Toximet's new rapid testing system comes in. It's easy to use, supremely precise and comes in at a low cost. By utilising this system, producers no longer need to send off test batches to some distant lab – they can process their produce in-house. This saves time, money and hassle.
Disruptive technologies are exactly that – disruptive. If you consider the advanced printing system that you now have access to at home or the office, alongside the countless external vendors that would have once been in place to provide you with the same service, it’s easy to imagine the highly efficient Toximet ultimately supplanting the incumbent laboratories. The question is whether Toximet's intellectual property will keep them ahead of the competition long enough to realise the financial potential of their invention, or whether a newly-birthed idea will render theirs’ as obsolete as the laboratory might become. While it doesn’t seem likely, inspiration is impossible to predict – as so many a crowdfunding campaign has already proved.
Capital required: £1,575,840
Amount invested so far: £1,394,100
Equity offered: 13.34%
Tax relief: EIS
Voting rights: Yes
Pre-emption rights: Yes
Pre-money valuation: £10,233,060
Share price: £60