BetaKit

Bee Vectoring Technology raises $1.1 million

Mississauga-based Bee Vectoring Technologies, after it closed a second tranche of its non-brokered private placement, announced that it has raised aggregate gross proceeds of $1.1 million.

The company develops bee-vectoring technology which uses commercially-reared bumblebees as natural delivery mechanisms for powdered mixtures, which are meant to inhibit or eliminate common crop diseases. BVT will use the funding to further develop its manufacturing plant, international patent registration of the BVT system, and as general capital.