CPE News (6.9.2023) – Vive Crop Protection Inc. has announced the closing of US $8.4 million Series C add-on funding round with current investors BDC Capital, Export Development Canada (EDC), Urbana Corporation, Co-operators, Emmertech, Lex Capital, and iSelect.
The add-ons, which closed in three tranches over 2022 to 2023, bring the total Series C to US $34.4 million.
Vive will use the funds to invest in R&D efforts, including a laboratory expansion and headcount growth, to expand into underserved markets in North America, and to ramp up its marketing and demand generation capabilities.
photo credit: Mirko Fabian via pixabay
News Release
VIVE CROP PROTECTION ANNOUNCES EXTENSION OF SERIES C FINANCING ROUND
June 7, 2023
Vive Crop Protection Inc. is pleased to announce the extension of its Series C financing round. Current investors that contributed to the round include the Business Development Bank of Canada (BDC), Export Development Canada (EDC), Urbana Corporation, Co-operators, Emmertech, Lex Capital, and iSelect.
Vive raised $26M USD in its initial Series C, and an additional $8.4M USD in this extension, for a total of $34.4M USD.
Vive will use the funds to invest in R&D efforts, including a laboratory expansion and headcount growth; expand into underserved markets in North America; and ramp up its marketing and demand generation capabilities.
“The continued support of our investors, especially in a challenging equity market, demonstrates the strong belief that Vive’s potential is unlimited,” says Darren Anderson, CEO of Vive Crop Protection. “We are excited to scale the business as we expand our facilities and bring more products to the North American market.”
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 their sustainability profile.
“Vive is one of the fastest-growing companies across all sectors, not just in agriculture, and has an incredibly high-performing team,” says Kyle Scott, Managing Director of Emmertech. “We see an exciting growth trajectory ahead; the future of Vive has never been brighter, and we are thrilled to be a part of the journey alongside them.”