The Phytocontrol group's strategic investment subsidiary, Phytocontrol Invest'Innov, has acquired a stake in the Nîmes-based startup, which publishes an online platform dedicated to R&D and its financing.
Acquisition of a stake in Phytocontrol
Continuing Phytocontrol's policy of supporting innovation, its investment subsidiary Invest'Innov has contributed to the fund-raising of one of the laboratory's service providers, LabOxy.
This Nîmes-based start-up, launched in 2014, offers an online solution that enables companies to optimize and steer their Research & Development (R&D) departments by combining all relevant information: time spent, personnel involved, R&D costs and expenses... LabOxy also helps to gather and secure all supporting documents required for innovation funding, notably the Research Tax Credit (CIR) and the Innovation Tax Credit (CII). To date, LabOxy has secured 5 million hours of R&D.
"LabOxy is delighted to welcome investors who are also customers to its capital; it's the best sign of confidence they can give us", comments Benjamin Néel, CEO of LabOxy. This is the 2nd round of financing for LabOxy, in which private investors are also participating, and the company hopes to accelerate its national and international development, while continuing to develop new features for the platform.
Second investment for Invest'Innov
For its part, Invest'Innov is adding a second company to its portfolio after acquiring a stake in Microbia in December 2017, alongside other financing players.
"In line with our R&D strategy, we use LabOxy's services on a daily basis and are delighted to be able to support our partner's development. We are also fulfilling our desire to fund innovation, and what's more, innovation in the Gard region", explains Mikael Bresson, President of Phytocontrol group.
