VANCOUVER, British Columbia–(BUSINESS WIRE)–March 3, 2020–

CIBC Innovation Banking is happy to announce a $25 million development capital financing with Vancouver-based SemiosBio Technologies Inc., a frontrunner in creating expertise options for the precision crop administration {industry}. The capital can be utilized by the corporate to assist development into new crops and new geographies, and for strategic acquisitions.

An industry-leading precision crop administration platform, Semios offers a proprietary in-field Internet of Things (IoT) community of over 1 million sensors that monitor and predict insect, illness, water, and frost threat in close to real-time. Collecting 350 million information factors day by day, this info is fed by way of established and proprietary fashions after which supplied to the grower in a easy, highly effective cellular or internet interface.

The information permits growers of high-value crops (apples, almonds, pistachios) to make administration choices that cut back their agricultural inputs and enhance the standard and yield of their crop.

“Semios is bringing advanced software and hardware to precision crop management with a vision to making the global food supply chain more efficient and safer to the increasing global population that relies on it,” mentioned Joe Timlin, Managing Director, CIBC Innovation Banking Vancouver. “We are pleased and proud to play a role in helping Semios achieve its important goals.”

CIBC Innovation Banking Provides Precision Crop Management Company SemiosBio With a $25 Million Growth Capital Financing to Support Expansion

The firm lately introduced $100 million CAD in personal fairness funding led by Morningside Group, a Boston-based personal fairness and enterprise capital agency.

“This timely support of $25 million in debt facilities from CIBC will complement our recent $100 million equity raise to accelerate research, development, partnerships and acquisitions, helping growers around the world produce high quality food sustainably” mentioned Michael Gilbert, CEO, Semios.

Today’s announcement is in-line with CIBC’s dedication to assist $150 billion in environmental and sustainable financing actions by 2027.

About CIBC Innovation Banking

CIBC Innovation Banking delivers strategic recommendation, money administration and funding to North American innovation firms at every stage of their enterprise cycle, from begin as much as IPO and past. With places of work in Atlanta, Austin, Chicago, Denver, Menlo Park, Montreal, Reston, Toronto and Vancouver, the staff has intensive expertise and a powerful, collaborative method that extends throughout CIBC’s business banking and capital markets companies within the U.S. and Canada.

About Semios

Founded in 2010, Vancouver-based Semios provides a precision farming platform that gives real-time crop information and pest administration instruments for growers of tree fruit, nut and vine crops. Leveraging a proprietary, in-orchard IoT wi-fi community, machine studying, and massive information analytics, Semios helps farmers handle insect pests, illness, frost and irrigation. The Semios analytics engine attracts on numerous sources of knowledge and data together with a sturdy, wi-fi community of in-canopy IoT sensors on every buyer farm measuring local weather, soil moisture, insect and illness exercise. Since 2018, Semios has been named to the Global Cleantech 100, an annual listing of the 100 most revolutionary cleantech firms globally, and the Thrive Top 50, listing of the 50 main world AgTech firms.

CIBC Innovation Banking Provides Precision Crop Management Company SemiosBio With a $25 Million Growth Capital Financing to Support Expansion

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Kathryn Lawler, [email protected], 416-242-1943