Rise Gardens has raised $9 million in an oversubscribed Series A Round, according to a press release sent to The Spoon. The round was led by TELUS Ventures with participation from existing investors True Ventures and Amazon Alexa Fund and new investor Listen Ventures. It brings Rise’s total funding to date to $13 million.
New funds will go towards product development and expansion, according to the company. As of right now, Rise Gardens makes an IoT-connected hydroponic grow system for the consumer home. The company provides the farming system, seed pods, nutrients for the water, and accompanying mobile app that users can rely on to monitor and manage plant growth. The garden comes in three sizes, plus a tabletop version that was released at the end of last year.
As of right now, there are no voice control features on the gardens. But Rise CEO Hank Adams hinted last year at an eventual collaboration with Amazon that would bring Alexa functionality to the system. The Amazon Alexa Fund’s involvement in today’s funding round suggests that ambition is still very much in the plans. Rise will also in the near future sell its gardens via Amazon, marking the first time the product will be available via something other than the company’s direct-to-consumer channel.
Rise is one of a number of companies trying to bring the concept of high-tech gardening into consumers’ homes. Other notables right now include Gardyn, which makes a compact indoor-only unit, Lettuce Grow’s Farmstand, which can work both indoors and outdoors, and Hong Kong-based Aspara’s countertop unit.
All of these systems use hydroponics to grow leafy greens and herbs. They also all, at this point, come with a hefty price tag: Rise’s Single-Family Garden starts at $549 USD, for example, while a Lettuce Grow unit that holds 24 plants and includes LED lights costs $849.
Adams said today that part of its new funds will go towards reaching “an even wider audience in the U.S., Canada and around the world.”
Leave a Reply