Vatorex raises CHF 1.1 million in funds to expand its beekeeping technology into commercial and international markets
06.10.2022
Swiss agri-tech start-up ‘Vatorex AG’ has received funding amounting to 1.1 million CHF, which will be used to develop projects in the North American commercial beekeeping market and to accelerate its product road map. The bridging round was led jointly by the European Innovation Council Fund (EIC Fund) and Basellandschaftliche Kantonalbank (BLKB), with additional funds supplied by angel investor and entrepreneur, Mike Keller, Winterthur.
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The round comes as Vatorex AG secures a commercial partnership with the Alberta Beekeepers Commission (ABC) and Results Driven Agricultural Research (RDAR), valued at 650’000 CAD. The pilot project involves the supply and evaluation of Vatorex’s patented varroa controlling technology to commercial beekeepers in Alberta, Canada, in the 2023-2024 beekeeping seasons.
Vatorex was founded in 2016, with the objective of developing a chemical-free solution to the Varroa mite- a primary cause of global honey bee losses. Vatorex’s patented Varroa solution consists of an automated heat treatment technology, which effectively destroys mite infestations with minimal harm to bees. The company’s objective is to be at the forefront of the movement to save the bees, by becoming the world leader in eco-positive apiculture technology.
Vatorex CEO Pascal Brunner says “We are incredibly happy to welcome this bridge funding round. It is a tremendous vote of confidence from the EICF, BLKB, and Mike Keller in both the environmental and community impact of our apiculture technology, as well as its commercial viability”.
Vatorex Senior Marketing Manager Grant Morgan says “For the past 40 years, commercial beekeepers have had to rely on miticides to control varroa mite infestations. However, this has always been a losing battle and the bee populations are still under threat. Our partnership with the ABC and RDAR is a paradigm shift for commercial beekeeping globally, as we now have an effective and profitable solution to one of the major causes of bee losses.
Vatorex won Venture Kick stage 3 in 2016.
Vatorex was founded in 2016, with the objective of developing a chemical-free solution to the Varroa mite- a primary cause of global honey bee losses. Vatorex’s patented Varroa solution consists of an automated heat treatment technology, which effectively destroys mite infestations with minimal harm to bees. The company’s objective is to be at the forefront of the movement to save the bees, by becoming the world leader in eco-positive apiculture technology.
Vatorex CEO Pascal Brunner says “We are incredibly happy to welcome this bridge funding round. It is a tremendous vote of confidence from the EICF, BLKB, and Mike Keller in both the environmental and community impact of our apiculture technology, as well as its commercial viability”.
Vatorex Senior Marketing Manager Grant Morgan says “For the past 40 years, commercial beekeepers have had to rely on miticides to control varroa mite infestations. However, this has always been a losing battle and the bee populations are still under threat. Our partnership with the ABC and RDAR is a paradigm shift for commercial beekeeping globally, as we now have an effective and profitable solution to one of the major causes of bee losses.
Vatorex won Venture Kick stage 3 in 2016.