Micro-ID, a West Sussex manufacturer of micro-chips for pets and other animals, is looking to raise £250,000 through crowd-funding to expand and develop new applications and technology.
The Burgess Hill company, which is raising the investment on Crowdcube, was founded by entrepreneur Richard Fry, who has been involved with micro-chips for over 25 years, has developed three businesses and is on the international committee for standardising animal ID.
The business said that international legislation is expanding the market, with many countries introducing measures to get pet populations — particularly dogs — under closer regulation.
Along with micro-chips, the company also supplies scanners plus related products and services to veterinarians, animal-welfare professionals, zoos, wild-life professionals and consumers world-wide.
Over the last year, Micro-ID has secured distributors and new sales in Scandinavia, Greece, Latvia, the Czech Republic, Turkey, Belarus, Switzerland, Moldova and Portugal.
The company, which reported a turnover of £550,000 in its 2013-14 financial year, said it plans to achieve annual revenues of £6 million and a profit of £1 million by 2017.