Tagged: agriculture

Vida Cannabis sold $440,000 worth of securities to US investors


vida cannabisAccording to a document filed with the Security and Exchange Commission, Vida Cannabis sold a total of $440,000 in a non-brokered equity investment round to US investors. The transaction which started on April 29th, garnered the support of seventeen investors. The company raised a total of $2.5 million in mid-April and the amount disclosed to the SEC is probably the portion of the offering subscribed by US investors.

The company is a medicinal marijuana producer. The company’s goal is to develop a major production footprint in the rapidly developing global marketplace for the legal use of medicinal and recreational marijuana. The company is focusing on the Canadian market where Health Canada has established national guidelines enabling best-in-class producers to acquire commercial production licenses under the Marijuana for Medical Purposes Regulations.

The company, headquartered in Toronto Canada, was registered this year. Revenues were not disclosed.

The executive team includes Gary Harbottle, J Gregory Wilson and Ricardo Faria.
The board of directors includes Christine Fard, Christopher Hansen, Michael Stocker and Ronald Holland.

Offering recap
Status: Completed
Company: Vida Cannabis
Industry: Other
Amount offered: $440,000
Amount placed: $440,000
First sale: 04-29-2014
Data as of: 05-13-2014

Vida Cannabis raises $2.5 million via equity issuance


vida cannabisVida Cannabis  upped and completed its $2.5 million equity offering according to information released on April 15th by the company. The company had originally secured a $1 million seed financing from Canadian investors in early March. According to an SEC filing $35,000 was raised in the US from three financial backers on March 20th. No offering was previously initiated by the company under a registration exemption with the SEC.

The company is a medicinal marijuana producer. The company’s goal is to develop a major production footprint in the rapidly developing global marketplace for the legal use of medicinal and recreational marijuana. The company is focusing on the Canadian market where Health Canada has established national guidelines enabling best-in-class producers to acquire commercial production licenses under the Marijuana for Medical Purposes Regulations.

The company, headquartered in Toronto Canada, was registered this year. Revenues were not disclosed.
The executive team includes Gary Harbottle, J Gregory Wilson and Ricardo Faria.
The board of directors includes Michael Stocker and Ronald Holland.

Offering recap
Status: Completed
Company: Vida Cannabis
Industry: Other
Amount offered: $2.5 million
Amount placed: $2.5 million
Data as of: 04-16-2014

Aeroponic equipment manufacturer raised an additional $30,000


indor harvestIn a document filed with the SEC, Indoor Harvest reported still being in the market with its $500,000 equity offering which is 43% subscribed as of the filing date. Prior investors ponied up an additional $30,000. They had previously subscribed to $190,000 in securities according to another filing disclosed last Thursday. So far, twenty-six backers committed $220,000 to Indoor Harvest’s offering. Based on the offering’s structure the subscription is scheduled to close in six months at the latest. The company closed one unregistered private placement which raised an estimated $50,000.

The company is an equipment designer, developer, marketer and direct-seller of commercial grade aeroponic fixtures and supporting systems for use in urban controlled environment agriculture (CEA) and building integrated agriculture (BIA). It offers individual original equipment manufacturer (OEM) fixtures and value added components that can be combined in a variety of ways allowing full customability of installation. Indoor Harvest is focusing on the underserved middle market between hobby and large scale operations.

The company, headquartered in Houston TX, is led by Chad Sykes (CEO). Revenues were not reported.

Random Research has reported other transactions related to urban controlled environment agriculture: Podponics, Freight Farms and Rx Green Solutions.

Offering recap
Status: Intermediary close
Company: Indoor Harvest
Industry: Agriculture
Amount offered: $500,000
Amount placed: $220,000
Change: offered +0% / raised +13% / placed 43%

Final close of aPEEL Technologies’ $1.25 million seed round


aPEEL Technologies disclosed placing an additional $270,000 worth of Series Seed preferred shares. The $1.25 million non-brokered equity offering originally initiated a first close of $960,000 with twenty investors. It took the company about a month to close the financing round. This is the first placement made under an exemption by aPEEL. The company recently received a $100,000 grant from the Bill & Melinda Gates Foundation.

aPEEL developed and commercializes a technology for post harvest preservation. The company uses natural plant extracts that can be applied using a low cost spray coating procedure to create an ultra thin barrier to prevent fruits and vegetables’ water loss and oxidation (ediPEEL) or even disguise them so they are not recognizable by bacteria, fungi or pests (invisiPEEL). The technology enhances shelf life, reduces the amount of refrigeration required to keep the products fresh, and reduces spoilage. The ingredients for the product’s formulation come directly from wasted organic matter therefore making the technology very affordable and suitable for developing countries’ farmers.

James Rogers (Founder, President and CEO) leads the Santa Barbara CA based company which was registered in 2012. The executve team includes Jenny Du (Extraction Engineer) and Brian Stahl (Deposition Engineer).
The board of directors includes John Petote and Jason Spievak.

Offering recap:
Status: Final close
Company: aPEEL Technologies
Industry: Other
Amount offered: $1.25 million
Amount placed: $1.25 million
First Sale: 12/31/13

Pixelated geospatial data analytics platform ups its offering by 566%


agralogicsAfter initiating a first close of $100,000 in December on a $300,000 financing round, Agralogics disclosed raising an additional $80,000 and increasing the round to $2 million. The non-brokered mezzanine offering was placed with six investors thus far. The offering’s expected net proceeds will amount to $1.94 million which excludes $60,000 to be paid toward officers’ salaries.

The company develops a big data visualization and analytic platform for the agriculture market. Agralogics combines pixelated geospacial data with a predictive analytic platform to produce visualizations and insights to drive decisions. The company’s first product is called Forensics Logic which allows post season analysis of a farm. The user just needs to draw the fields owned and the application will compile satellite imagery, soil, weather and crop phenology*. The user can elect to provide more data such as water, chemicals used and crop yield to enhance the analysis.

Sumer S. Johal (Founder and CEO) leads the Walnut Creek CA based company. Agralogics was registered in 2013. Agralogics elected to keep its revenues undisclosed. The executive team includes: Sanjay Dayal (Co-founder and CTO), Michael MacDonal (Data Strategy), David Sypniesky (Sales and Marketing) and Mark Linder (Business Development).

Offering recap:
Status: Second close
Company: Agralogics
Industry: Other Technology
Amount offered: $2 million
Amount placed: $180,000
First Sale: 12/31/13


*Phenology is the study of periodic plant and animal life cycle events and how these are influenced by seasonal and interannual variations in climate.

aPEEL Technologies raised an additional $20,000 in seed equity


According to a document filed with the SEC, aPEEL Technologies disclosed placing an additional $20,000 with one investor. The $1.25 million non-brokered equity offering originally initiated a first close of $960,000 with twenty investors. This is the first time the company is raising money under an exemption on the private placement market. The company recently received a $100,000 grant from the Bill & Melinda Gates Foundation.

The company developed and commercializes a technology for post harvest preservation. The company uses natural plant extracts that can be applied using a low cost spray coating procedure to create an ultra thin barrier to prevent fruits and vegetables’ water loss and oxidation (ediPEEL) or even disguise them so they are not recognizable by bacteria, fungi or pests (invisiPEEL). The technology enhances shelf life, reduces the amount of refrigeration required to keep the products fresh, and reduces spoilage. The ingredients for the product’s formulation come directly from wasted organic matter therefore making the technology very affordable and suitable for developing countries’ farmers.

James Rogers (Founder, President and CEO) leads the Santa Barbara CA based company which was registered in 2012. The executve team includes Jenny Du (Extraction Engineer) and Brian Stahl (Deposition Engineer).
The board of directors includes John Petote and Jason Spievak.

Offering recap:
Status: Second close
Company: aPEEL Technologies
Industry: Other
Amount offered: $1.25 million
Amount placed: $980,000
First Sale: 12/31/13

Is the local farming battle on?


Clipboard02Freight Farms announced the first close of its $2 million equity placement which occurred in mid November. Twelve investors subscribed to $1.2 million or 61% of the offering.

Freight Farms uses modified shipping containers for high yield crop production. Units are outfitted with advanced climate technology that creates optimal growing conditions needed to maximize the harvest. According to the company, the system delivers high quality production at a low cost of operation and uses a fraction of the energy compared to traditional and greenhouse production. Most importantly, it is designed to grow fresh food in urban centers as its installation does not require redevelopment, it can also be stacked to scale-up production without using a larger footprint. According to the Wall Street Journal, the company sells each unit for $60,000 and had revenues amounting to $500,000 since its launch in 2013. The company is currently selling the turnkey containers to grow leafy green, “Vine Veggie” and “Fresh Fungi” are in the works.

There seem to be an increasing number of companies offering solutions to feed an ever growing population of urban locavore. PodPonics which raised $100,000 last June has been developing a similar idea since 2010 and Green City Growers, a MassChallenge alumni looking to expand outside of Boston, transforms unused space such as rooftops into urban organic farms.

Freight Farms, headquartered in Boston MA, was founded in 2013 by Brad McNamara and Jonathan Friedman. The Board of directors includes Reenie McCarthy who is related with the Morningside Group a family office making private equity and venture capital investments.

Offering recap:
Status: First close
Company: Freight Farms
Industry: Other
Amount offered: $1,954,576
Amount placed: $1,204,576
First Sale: 11/19/13

Rx Green Solutions announces first close of $385,000 on its $500,000 equity offering


A first close of $385,000 was initiated by Rx Green Solutions on its fundraising effort started this month. 77% of the $500,000 non-brokered equity offering was placed with three investors. The company expects to raise an additional $115,000 to close the offering within a year. This is the first known offering initiated by the company on the US private placement market.

Rx Green Solutions designs and commercializes all-natural plant nutrient solutions for hydroponic and field application. The company offers commercial grade technologies and solutions to address the needs of urban farmers and growers. The company’s products are available in stores primarily located on the northern east and west coasts or online. The product line encompasses five products ranging in price between $30 to $35.

The company, headquartered in Manchester NH and led by Todd Brady, was registered in 2012. Rx Green Solutions elected not to disclose its revenues.

Offering recap:
Status: First close
Company: Rx Green Solutions
Industry: Agriculture
Amount offered: $500,000
Amount placed: $385,000

Biotech company in the market with two concurrent mezzanine offerings


Benson Hill Biosystems, Inc. is in the market with two concurrent mezzanine offerings to raise a total of $2.5 million. The company already placed $451,000 with five investors as part of a funding agreements signed last month. This is the fourth non-brokered placement initiated by the company which raised close to $1 million since its foundation. The company expects to raise additional funds to close the offering within a year and to raise about $7 million overall via a Series A financing round. The company is backed by BioGenerator, a seed fund designed to facilitate the formation of successful, sustainable bioscience companies in the St. Louis region, and Missouri Technology Corp a public-private partnership focusing on Missouri based emerging bioscience companies.

The company focuses on developing and marketing genes encoding trait that boots yield for major crops such as corn, soybeans and rice. According to the company its products are designed for sustainable agriculture to feed an ever growing population and the US bio energy policy.

Benson Hill Biosystems, Inc., headquartered in Cary, NC, was founded in June 2012 by Matthew “Matt” B. Crisp (CEO and President) and Thomas “Tom” P. Brutnell (CSO – Chief Scientist Officer).

Offering recap
Status: First close
Company: Benson Hill Biosystems, Inc.
Industry: Biotechnology
Amount offered: 2,500,000 via two offerings
Amount placed: 451,000

“Good” virus maker in the market with a $400,000 mezzanine offering


OmniLytics, Inc. raised 50% of its $400,000 mezzanine private placement from one investor. The company placed an estimated $700,000 in mezzanine security since 2009. The offering will remain open for a year during which at most four investors will be sought after.

OmniLytics, Inc. develops bacteriophage, i.e. good viruses that eat specific bacteria, as a natural solution for infectious disease control. The company’s bacteriophage technology is leveraged for the research and development of bacteriophage solutions for pathogen control in the agricultural, food & water, industrial, pharmaceutical, and defense markets. It received an EPA registration for its’ AgriPhage bacteria-control product line.

The company, headquartered in Sandy UT, is lead by Justin Rieber (President and CEO).