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Thursday / March 28. 2024
HomeCompany NewsVive Crop Protection secures USD $26 Mn in Series C investment round

Vive Crop Protection secures USD $26 Mn in Series C investment round

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Company plans to accelerate the commercial deployment of its next-generation product portfolio into new North American markets.

Toranto based Vive Crop Protection announced the close of its USD $26 million Series C investment round. The round was led by Emmertech with participation from the Cibus funds, and existing investors Business Development Bank of Canada (BDC), Export Development Canada (EDC), and Urbana Corporation. Vive has also secured debt financing from Silicon Valley Bank (SVB) to provide both working and growth capital in support of their continued expansion.

Vive will have a second close in the next quarter to accommodate top-tier investor groups still completing diligence – all strategically focused on next-generation agriculture technology. Vive will leverage its newest funding to accelerate the commercial deployment of its next-generation product portfolio into new North American markets while advancing its research and development pipeline.

“The investment by Emmertech, the Cibus funds, and existing investors, and the debt financing provided by Silicon Valley Bank underscores our success in delivering innovative solutions to farmers,” said Darren Anderson, Chief Executive Officer, Vive Crop Protection.

Kyle Scott, Managing Director of Conexus Venture Capital & Emmertech, says, “We are thrilled to be backing Vive’s outstanding team and the trust they’ve built among farmers with solutions that are efficient, sustainable, and profitable. We look forward to supporting Vive with their R&D infrastructure and entrance into global markets.”

Alastair Cooper, Head of Venture at the Cibus funds, said, “Our investment underlines our commitment to disruptive companies like Vive who place innovation at the core of their business model. As agriculture continues to embrace new technology, we believe Vive products will become increasingly important for maximizing on-farm efficiency and sustainability.”

Graeme Millen, Managing Director and Climate Tech & Sustainability lead in Canada for Silicon Valley Bank, says, “Vive’s unique technology exemplifies the power of next-generation solutions to create sustainable yet profitable outcomes for stakeholders. This approach aligns with SVB’s role as an active partner for high impact Agtech companies and we’re excited to support Vive’s important mission.”

Vive’s proprietary Allosperse® technology is a nanoscale, polymer-based delivery system that improves the targeting and performance of both synthetic and biological active ingredients, enhancing farmers ROI and sustainability profile.

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