Heightened interest in effective alternatives to toxic chemical pesticides has helped a French pheromone start-up to raise €60m.
Pheromones are naturally produced substances released by animals, especially insects, which affect the behaviour of other animals in the same species. M2i is developing pheromones for biological protection of crops to control invasive insects.
The funding round has been led by ADM Capital, a London-based private equity firm, which is also a backer of other food and agritech start-ups including Aerofarms, the US indoor farming company.
The capital raising will help M2i, which sells more than 60 products across 25 countries, to broaden its product range and extend its international presence. Its products include biological protection for apple trees, vineyards, tomatoes, banana trees and in bulk crops such as corn and cotton. It also manufactures specialist products for gardens, parks and forests, protecting box trees, palm trees and pine trees from invasive insects.
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