Cantor Fitzgerald, Ireland’s largest fundraiser for EIIS companies, is raising €5m for BioAtlantis, a Tralee-based biomarine company that extracts nutrients from seaweed for use as agri supplements.
he company was established in 2004 by John T. O’Sullivan, previously operations manager at the proteins division of Kerry Ingredients.
The company produces biostimulants which result in greater crop yields. BioAtlantis is developing solutions in the area of feed additives for pig and poultry health and also human nutraceuticals targeting autoimmunity and metabolic diseases.
“We’ve been working with them for the last number of months and we’re raising €5m in new share capital to invest in the business, to expand their current production capacity and to fund their growth into new international markets,” said Conor McKeon, Cantor’s head of corporate finance.
BioAtlantis currently trades in the US, Mexico, Brazil, China and India, and has a presence in 35 markets..
McKeon said the company had funded the business from its own resources to date. “This is their first fund raise and it qualifies for EIIS under its business plan to expand into new markets.”
There have been some challenges with the EIIS scheme in recent years due to changes in how the scheme has operated. However, McKeon said appetite for the scheme, which offers tax breaks to investors, was strong
