Vive Crop Protection announced a first close of $7M CAD ($5.6M USD) towards its’ series C equity financing led by existing investors Urbana Corporation, Business Development Bank of Canada’s (BDC) Cleantech Practice and Export Development Canada (EDC). Powered by its patented Allosperse Delivery System, Vive’s unique products ensure growers have Precision Chemistry to enhance their existing Precision Agriculture tools.
“It’s exciting to have our existing investors support the power and opportunity of Vive’s Precision Chemistry products. The launch of AZterknot fungicide, the industry’s first biological, chemical and Allosperse fungicide, is a strong indicator of the biological/chemical combinations that we can bring to the market. Our goal continues to be helping growers achieve real results, while maximizing efficiency and minimizing environmental impact” says Darren Anderson, CEO of Vive Crop Protection.
“Vive’s revenue growth CAGR of 74% from July 2018 to June 2021 is a testament to the value that Vive products bring to both farm and retail operations across the U.S. We hear time and time again that Vive products are unique and are creating value for members of the value chain,” continues Anderson. “We are experiencing extraordinary growth in the number of new retailers carrying Vive products and the number of farmers using Vive products on a growing number of acres.”
This funding will be used to continue building out the product pipeline with a focus on biological/chemical combinations such as biopesticides and biostimulants.
Thomas S. Caldwell, C.M., CEO for Urbana Corporation says, “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.”
“Vive’s growth continues to impress us, and multiple leading organizations have recognized their potential,” says Jahangir Bhatti, Director, Cleantech Practice at BDC. “We are proud to support their expansion and very pleased to see their technology being applied to biologicals. We anticipate significant demand for it in the future as evidenced by AZterknot’s sales in 2021.”
“EDC is excited to support Vive’s successful growth,” said Carl Burlock, Executive Vice-President and Chief Business Officer at EDC. “Vive was named an EDC Cleantech Export Star in 2019 in recognition of its export-driven growth. We are pleased to see the company’s continued expansion and look forward to witnessing the positive impacts it makes on the agricultural industry.”