An extension of the Series C financing round has been announced by Vive Crop Protection Inc. Current investors include the Business Development Bank of Canada (BDC), Export Development Canada (EDC), Urbana Corporation, Co-operators, Emmertech, Lex Capital, and iSelect.
For a total of $34.4 million USD, Vive raised $26M USD in its initial Series C, plus $8.4M USD in this extension. With the funds, Vive will expand its lab and hire more staff; expand into underserved markets in North America; and ramp up its marketing and demand generation efforts.
“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.”
Viva's proprietary Allosperse® Delivery Technology is a nanoscale, polymer-based delivery system that enhances farmers' ROI and sustainability by improving the targeting and performance of conventional and biological active ingredients.
“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.”