Jul 28, 2020Vive Crop Protection gets $7.2 million to expand precision chemistry footprint in US
Vive Crop Protection recently announced a $7.2 million investment from Urbana Corporation to enhance the company’s precision agriculture tools.
The deal, a CAD series B3 equity financing, was 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 Vive’s patented Allosperse Delivery System, the company’s unique products help growers have precision chemistry to enhance precision agriculture tools.
“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,” said Darren Anderson, CEO of Vive Crop Protection, through a press release.
The funding will be used to continue building out the Vive US Sales team, with established distribution across the continental U.S. Vive will also invest further in its Allosperse Delivery System, which has been recently utilized to precisely and efficiently deliver biologicals such as biopesticides and biostimulants.
Dan Bihlmeyer, VP of sales and marketing at Vive Crop Protection said: “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 U.S.”
