Vice Crop Protection snaps up C$7.2m in Series B3 round

Vive Crop Protection, a Toronto-based crop protection technology company, has secured C$7.2 million in a Series B3 financing. The round was led by Urbana Corp with participation from existing investor Middleland Capital and BDC Capital’s Cleantech Practice. Vive created the Allosperse pesticide delivery system to improve the performance of pesticides.

PRESS RELEASE

JULY 28, 2020
Vive Crop Protection recently closed a $7.2M CAD series B3 equity financing led by Urbana Corporation and supported by existing investor Middleland Capital, as well as Business Development Bank of Canada’s (BDC) Cleantech Practice. Powered by their patented Allosperse® Delivery System, Vive’s unique products ensure growers have Precision Chemistry to enhance their Precision Agriculture tools.

“We’re excited to bring Precision Chemistry products that help growers achieve real results. Farm equipment that is state-of-the-art and sophisticated data and analytics help maximize their productivity and efficiency. It is time that they have the same modern technology in the chemical and biological tools that they use. This funding will help us further expand our commercial footprint, pushing past 1.2 million acres in 2020, as well as deliver more exciting innovations to our grower customers,” says Darren Anderson, CEO of Vive Crop Protection.

This funding will be used to continue building out the Vive US Sales team, with established distribution across the continental USA. Vive will also invest further in its revolutionary Allosperse Delivery System, which has been recently utilized to precisely and efficiently deliver biologicals such as biopesticides and biostimulants.

Thomas S. Caldwell, C.M., CEO for Urbana Corporation: “We all know how critical agriculture is in our lives. Urbana is excited about Vive’s ability to help growers improve their productivity, efficiency, and sustainability. We look forward to Vive’s continued growth as they expand their business in the United States and internationally.”

“We are pleased with Vive’s robust growth to date and commend the management team on their execution,” said Jahangir Bhatti, Director, Cleantech Practice at BDC. “Vive is well positioned to accelerate market adoption of Allosperse and continue their mission to help farmers do more with less.”

Dan Bihlmeyer, VP Sales and Marketing at Vive Crop Protection: “Our current products are delivering significant benefits to growers and we’re scaling up dramatically to deliver new and unique Precision Chemistry solutions to more customers across the US. Vive is the only company positioned to fill this need.”