The biotech company Axioma raises 2.4 million euros to triple its production capacities

The year begins with excellent news for Axioma, designer and manufacturer of biosolutions based on natural active ingredients combined to make crops resistant to climate change. It has just raised 2.4 million euros to finance its commercial development. To meet demand, production capacity will increase to 15 million liters per year against five million today after an investment of one million euros. Work should start before the summer.

After inaugurating his new production unit in October in the presence of Agnès Pannier Runacher, Minister of Industry, the founder Anthony Bugeat completed this third fundraising in four weeks.

"It took us nine months for the first of 500,000 euros in 2017, ten months for the second of 830,000 euros in 2020 and one month this time, which was set between one and two million", notes the company manager .

Axioma has attracted Business Angels who have committed significant amounts, as well as the crowdfunding platform Sowefund and the Naco co-investment fund from the Nouvelle-Aquitaine region. This renewed shareholder confidence confirms the growing power of the company, which will celebrate its tenth anniversary at the end of the year.

"We have reached a certain level of maturity in terms of innovation, industrial with our new factory and commercial with contracts signed for five years with large global firms," he notes. "It is thanks to our maturity that the fundraising has been so rapid with more and more interested investors."

The next step will be to deliver part of the orders in France between January and February, for the first contracts signed this summer with privileged partners such as Adama, Angibaud, Olmix, SBM and Syngenta.

Gain market share in Europe

Marketing authorizations for its biosolutions are expected in the 1st quarter for Spain, Italy and Germany. With the European regulations that will come into force on July 16, a vast market will open up for Axioma.

"With the same marketing authorization, we will be able to market throughout the European community instead of asking for one per country as currently, which is very heavy," he says. "Its application will take a little delay with the health crisis, but as we must not miss an agricultural campaign, we have requested marketing authorizations for these three countries."

The company, which has just recruited five employees, bringing the workforce to nineteen, has planned around twenty hires this year. Products are under development with in vitro tests on new raw materials which will be spread over the year before testing in real conditions in 2023 to obtain new marketing authorizations in 2025.

By then, an authorization is expected in September for a solution dedicated to oilseed crops. "There is a very strong demand for this product. Two firms already want to sign exclusive contracts in France", he assures us. A year synonymous with takeoff for the start-up.