BioNeutral has received $200,000 from the initial closing and a second fund of $200,000, both from the sale of Series C convertible preferred stock.
The company will receive fund of $200,000 for each of the next three months, for a total funding of $1m, under the agreement.
BioNeutral Group chairman Frank Battafarano said their recent financing has provided them with the opportunity to develop and further enhance their relationships with both new and existing key vendors and suppliers.
"We look forward to our relationship with Vinfluence in 2012 providing us with access to additional equity-based financing helping us to further commercialize our products," Battafarano said.
BioNeutral Group’s technology platform neutralizes harmful environmental contaminants, toxins and dangerous micro-organisms including bacteria, viruses, mold, fungi and spores.
