#ViveCropProtection #SeriesCfinancing #agriculture #R&D #investors
Vive Crop Protection Inc. is excited to share the news of the extension of its highly successful Series C financing round. The round has seen continued support from prominent investors, including the Business Development Bank of Canada (BDC), Export Development Canada (EDC), Urbana Corporation, Co-operators, Emmertech, Lex Capital, and iSelect.
The initial Series C funding raised an impressive $26 million USD for Vive, and this extension has added an additional $8.4 million USD, bringing the total funding to $34.4 million USD.
The primary purpose of this financing round extension is to provide Vive with the necessary resources to fuel its research and development (R&D) efforts. These funds will be allocated towards expanding the company’s laboratory infrastructure, facilitating the growth of its workforce, and enabling further technological advancements. Additionally, Vive intends to utilize the funding to penetrate underserved markets in North America and bolster its marketing and demand generation capabilities.
Darren Anderson, the CEO of Vive Crop Protection, expresses his gratitude for the unwavering support of the investors, particularly during a challenging period for equity markets. Anderson states, “The continued support of our investors, especially in a challenging equity market, demonstrates the strong belief that Vive’s potential is unlimited. We are excited to scale the business as we expand our facilities and bring more products to the North American market.”
Vive Crop Protection stands out in the agricultural industry due to its innovative proprietary technology, Allosperse® Delivery Technology. This nanoscale, polymer-based delivery system significantly enhances the targeting and performance of both conventional and biological active ingredients. By improving farmers’ return on investment (ROI) and sustainability profile, Allosperse® Delivery Technology offers a promising solution for crop protection.
Kyle Scott, Managing Director of Emmertech, acknowledges Vive’s exceptional growth and the exceptional capabilities of its team. Scott emphasizes, “Vive is one of the fastest-growing companies across all sectors, not just in agriculture, and has an incredibly high-performing team. 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.”
With the successful extension of its Series C financing round, Vive Crop Protection is well-positioned to continue its trajectory of innovation and growth. The company’s commitment to R&D, expansion into untapped markets, and strengthening of marketing efforts will undoubtedly contribute to its long-term success in the agricultural sector.