On March 22, 2019, Ecoation announced that it raised $5.4 million in a significantly oversubscribed seed financing round. The financing was led by Dr. Barney Pell and Dr. Chris Bissonnette (Managing partner of Pallasite Ventures) and was followed by several entrepreneurs and investors. Funds will be used to launch commercial sales of products and services in North America and Europe with future plans to expand to Asia, the Middle East, North Africa, and Australia.
Ecoation provides an end to end crop management platform that detects pests, diseases, and deficiencies at the earliest stage.
Pallasite Ventures is a venture capital firm specializing in mezzanine and seed financing to high-growth companies across a variety of industries.
Osler, Hoskin & Harcourt LLP represented both Ecoation and Pallasite Ventures on the transaction. Ecoation’s team consisted of Mark Longo, Laura Webb and Adam Bosma (Emerging and High Growth Companies); and Pallasite Ventures’ team consisted of Justin Young and Jacques Du Plessis (Emerging and High Growth Companies).