Agritech startup Vive Crop Protection grabs $8.4m in Series C extension

• Investors included Business Development Bank of Canada, Export Development Canada, Urbana Corp, Co-operators, Emmertech, Lex Capital and iSelect
• Vive will use the funds to invest in R&D, expand into underserved markets in North America and ramp up its marketing and demand-generation capabilities
• Vive’s proprietary Allosperse Delivery Technology is a nanoscale, polymer-based delivery system

Vive Crop Protection, a Toronto-based agricultural technology company focused on simplifying and optimizing crop production, has extended its Series C financing, raising an additional $8.4 million.

Last year, Vive raised an initial $26 million for the Series C round. With the extension, it now totals $34.4 million.

Investors in this round included Business Development Bank of Canada, Export Development Canada, Urbana Corp, Co-operators, Emmertech, Lex Capital and iSelect.

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 said it will use the funds raised to invest in research and development, 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,” said Darren Anderson, CEO of Vive Crop Protection, in a statement. “We are excited to scale the business as we expand our facilities and bring more products to the North American market.”