December 20, 2022 -- Vive Crop Protection is excited to announce the final close of investments in its Series C financing round, adding Co-operators, iSelect, and the Jim Richardson Family Office, to its current investor base. Each of these investor groups are strategically focused on the development of next-generation agriculture technology.
"The addition of Co-operators and iSelect along with continued support from existing investors has given Vive the opportunity to accelerate its product pipeline and make a real impact on more acres,” says Darren Anderson, CEO of Vive Crop Protection. “We are very excited to have these investors onboard and can’t wait to see the positive impact they will bring to Vive.”
The financing round was led by Emmertech and included participation from the Cibus funds and existing investors Business Development Bank of Canada (BDC), Export Development Canada (EDC), and Urbana Corporation. Vive also secured debt financing from Silicon Valley Bank (SVB) to provide both working and growth capital in support of its continued expansion.
Vive will leverage the funding round to continue the acceleration of its commercial deployment of next-generation Precision Chemistry™ solutions into new North American markets while advancing its research and development pipeline.
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 sustainability profile.
A Word from Investors:
“As one of the largest farm insurers in Canada, we are committed to supporting the development of tools and solutions that will help the Canadian agricultural sector thrive,” says Dan Watchorn, Vice President, Commercial and Farm Insurance at Co-operators. “As a limited partner of Emmertech, we view this as an impactful opportunity to collaborate by co-investing in Vive, as they introduce their innovative technology to the Canadian market. We believe Vive’s products represent the future of farming practices and have the potential to facilitate the production of greater yields, increased efficiency, and lower emissions which is in alignment with Co-operators commitment to sustainability.”
“At iSelect we see a strong crossover between technology companies like Vive Crop Protection and product companies in our portfolio (ex. Vestaron, Kula Bio, Holganix) that are working to deliver biological solutions that both improve farmer profitability and environmental sustainability,” says David Yocom, Principal at iSelect Fund. “We believe that Vive can serve as both a potential partner to companies in our portfolio today & in the future, while developing its own products that directly align sustainability and economics for farmers.”
About Co-operators
Co-operators is a leading Canadian financial services co-operative, offering multi-line insurance and investment products, services, and personalized advice to help Canadians build their financial strength and security. The company has more than $61.5 billion in assets under administration. Co-operators has been providing trusted guidance to Canadians for the past 76 years. The organization is well known for its community involvement and its commitment to sustainability. Achieving carbon neutral equivalency in 2020, the organization is committed to net-zero emissions in its operations and investments by 2040, and 2050, respectively. Co-operators is also ranked as a Corporate Knights’ Best 50 Corporate Citizen in Canada. For more information, please visit: www.cooperators.ca.
Co-operators Media Contact: media@cooperators.ca
About iSelect
iSelect is an early stage venture capital firm investing in companies addressing critical global issues in agriculture, food tech and healthcare with large markets and financially attractive business models. The firm supports the disruptive potential of emerging technologies that may substantially change markets, offering unique access to pre-IPO and pre-exit companies alongside name brand, global venture funds. iSelect evaluates thousands of start-ups every year, carefully crafting a portfolio it believes has the greatest chance to make a significant impact on food and health and create the potential for significant growth. For more information visit iselectfund.com.
About EDC
Export Development Canada (EDC) is a financial Crown corporation dedicated to helping Canadian businesses make an impact at home and abroad. EDC has the financial products and knowledge Canadian companies need to confidently enter new markets, reduce financial risk and grow their business as they go from local to global. Together, EDC and Canadian companies are building a more prosperous, stronger and sustainable economy for all Canadians.
For more information and to learn how we can help your company, call us at 1-800-229-0575 or visit www.edc.ca.
About Silicon Valley Bank
Silicon Valley Bank, the bank of the world’s most innovative companies and investors, provides commercial banking services, expertise and insights to the technology, life science and healthcare, private equity, venture capital and premium wine industries. With global commercial banking services, Silicon Valley Bank helps address the unique needs of its dynamic, fast-growing, innovative clients. Learn more at svb.com/canada.
About Urbana Corporation
Urbana Corporation is a diversified investment company. The long-term goal of Urbana Corporation is to seek and acquire investments for income and capital appreciation through a combination of public and private investments.
For further information, please contact:
Elizabeth Naumovski, Investor Relations
enaumovski@urbanacorp.com or 416-595-9106
www.urbanacorp.com
About Vive Crop Protection
At Vive, we create Precision Chemistry™ that simplifies crop production and delivers real results to growers. Powered by Vive's patented Allosperse® delivery technology, we optimize conventional and biological crop inputs for improved product performance from the jug to the field. Learn more at vivecrop.com.
Vive Media Contact:
Emily Roden
919-649-2398
eroden@vivecrop.com