At the recent opening ceremony of KropTek’s new production facility in Shenzhen (China), Wissam Farah, Director and Managing Partner announced KropTek’s capital raise milestone.
KropTek, an LED grow light and grow system provider from the UK, has successfully completed its £3 million angel investment round. “The initial target set in Q4 2018 was £2 million. KropTek’s growing activity during the past 6 months allowed the company to adjust the business plan projections and increase the capital raise to meet significant investor appetite at this early stage,” shared Wissam.
The investment included high net worth private angel investors from 13 different countries, highlighting KropTek’s global appeal. The equity raise is eligible for the UK Enterprise Investment Scheme, an HMRC tax incentive for private equity investment in early stage for companies.
Director and Managing Partner, Wissam Farah, announces KropTek’s Angel Capital Raise Milestone
On the 4th of April 2019, the company held an inauguration ceremony in Shenzhen (China) for its new LED grow light production facility, attended by clients and investors visiting from around the world. KropTek currently supplies LED grow lighting and container farming systems to major clients in North America, Canada, UK, Europe, and Asia.
KropTek’s high-spec container farms offer an environment for the growing of plant material in any global location and are being used by a number of plant and fruit growers in the UK and Europe. KropTek is developing its container farm range and investing in greater production capabilities to meet the exponentially growing demand in this sector, as well as providing turnkey systems for indoor farms.
“With KropTek’s leading technology, I believe in the business strategy and mission of the company. Over the next few years, indoor farming is going to release enormous market growth in the economy. KropTek’s LED Grow Lights and Container Farm solution has the opportunity to bring more affordable, cleaner and safer food to millions of people around the world”, added Jim Cowles, Non-Executive Director, designate.
To fulfil its global ambitions KropTek’s management team will use the new investment to actively pursue an aggressive growth strategy to meet consumer demand.