Dec. 22, 2022
Vive Crop Protection announced the final close of investments in its Series C financing round, adding Co-operators, iSelect, and the Jim Richardson Family Office, to its current investor base. Each of these investor groups are strategically focused on the development of next-generation agriculture technology.
"The addition of Co-operators and iSelect along with continued support from existing investors has given Vive the opportunity to accelerate its product pipeline and make a real impact on more acres,″ says Darren Anderson, CEO of Vive Crop Protection. ″We are very excited to have these investors onboard and can’t wait to see the positive impact they will bring to Vive.″
The financing round was led by Emmertech and included participation from the Cibus funds and existing investors Business Development Bank of Canada (BDC), Export Development Canada (EDC), and Urbana Corporation. Vive also secured debt financing from Silicon Valley Bank (SVB) to provide both working and growth capital in support of its continued expansion.
Vive will leverage the funding round to continue the acceleration of its commercial deployment of next-generation Precision Chemistry™ solutions into new North American markets while advancing its research and development pipeline.
Vive’s proprietary Allosperse® delivery technology is a nanoscale, polymer-based delivery system that improves the targeting and performance of both conventional and biological active ingredients, enhancing farmers ROI and sustainability profile.
A Word from Investors:
″As one of the largest farm insurers in Canada, we are committed to supporting the development of tools and solutions that will help the Canadian agricultural sector thrive,″ says Dan Watchorn, Vice President, Commercial and Farm Insurance at Co-operators. ″As a limited partner of Emmertech, we view this as an impactful opportunity to collaborate by co-investing in Vive, as they introduce their innovative technology to the Canadian market. We believe Vive’s products represent the future of farming practices and have the potential to facilitate the production of greater yields, increased efficiency, and lower emissions which is in alignment with Co-operators commitment to sustainability.″
″At iSelect we see a strong crossover between technology companies like Vive Crop Protection and product companies in our portfolio (ex. Vestaron, Kula Bio, Holganix) that are working to deliver biological solutions that both improve farmer profitability and environmental sustainability,″ says David Yocom, Principal at iSelect Fund. ″We believe that Vive can serve as both a potential partner to companies in our portfolio today & in the future, while developing its own products that directly align sustainability and economics for farmers.″
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