{"id":25335,"date":"2021-07-20T04:46:52","date_gmt":"2021-07-20T04:46:52","guid":{"rendered":"https:\/\/rbsitsoftwaresolution.com\/blog\/rise-gardens-grows-with-9m-series-a-to-help-anyone-be-an-indoor-farmer.html"},"modified":"2021-07-20T04:46:52","modified_gmt":"2021-07-20T04:46:52","slug":"rise-gardens-grows-with-9m-series-a-to-help-anyone-be-an-indoor-farmer","status":"publish","type":"post","link":"https:\/\/www.rbsitsoftwaresolution.in\/blog\/rise-gardens-grows-with-9m-series-a-to-help-anyone-be-an-indoor-farmer.html","title":{"rendered":"Rise Gardens grows with $9M Series A to help anyone be an indoor farmer"},"content":{"rendered":"

As more consumers embrace plant-based diets and sustainable food practices, Rise Gardens<\/a> is giving anyone the ability to have a green thumb from the comfort of their own home.<\/p>\n

The Chicago-based indoor, smart hydroponic company raised $9 million in an oversubscribed Series A round, led by TELUS Ventures, with existing investors True Ventures and Amazon Alexa Fund and new investor Listen Ventures joining in. The company has a total of $13 million in venture-backed investments since Rise was founded in 2017, founder and CEO Hank Adams told TechCrunch.<\/p>\n

Though he began in 2017, Adams, who has a background in sports technology, said he spent a few years working on prototypes before launching the first products in 2019. Rise\u2019s IoT-connected systems are designed to grow vegetables, herbs and microgreens year-round.<\/p>\n

Customers can choose between three system levels and get started with their first garden for about $300.<\/p>\n

There is a \u201ckind of joyousness\u201d in being able to grow something, but people are looking for assistance because they don\u2019t want to get into a hobby that will become demanding or stressful, Adams said. As a result, Rise\u2019s accompanying mobile app monitors water levels and plant progress, then alert users when it\u2019s time to water, fertilize or care for their plants.<\/p>\n

\u201cPeople are paying attention to food, and they care about what they eat,\u201d he added. \u201cThen the global pandemic played a part in this, with people leaning into growing their own food.\u201d<\/p>\n

In fact, customers leaned into growing food so much that Rise Gardens saw its sales eclipse seven figures in 2020, and gardens sold out three times during the year. Customers purchased close to 100,000 plants and have harvested 50,000.<\/p>\n

The company estimates it helped keep more than 2,000 pounds of food from being wasted and saved 250,000 gallons of water since launching in 2019.<\/p>\n

The concept of an indoor farm is not new. Incumbents include AeroGarden, AeroGrow, which was acquired<\/a> by Scotts-Miracle Gro last November, and Click Grow. Rise is among a new crop of startups that have raised funds that include Gardyn.<\/p>\n

However, Rise Gardens is differentiating itself from those competitors by making its gardens from powder-coated metals and glass and are designed to be a focal point in the room. It is also offering ways for people to experiment with their gardens.<\/p>\n

\u201cWe wanted something that would be flexible because once you have mastered a hobby, you will get bored,\u201d he added. \u201cYou can start at one level and they swap out tray lids to grow more densely. We have a microgreens kit you can add, or add plant supports for tomatoes and peppers. You can also build a trellis to vine snap peas.\u201d<\/p>\n

Adams will focus the Series A dollars into product development, inventory, manufacturing, expansion into new markets and building up the team, especially in the areas of customer service and marketing. Rise has about 25 employees and plans to bring on another eight this year.<\/p>\n

In addition, Rise Gardens\u2019 products will soon be available on Amazon \u2014 its first channel outside of its website. The company is also expanding into schools in what Adams calls \u201cversion 2.0\u201d of the school garden.<\/p>\n

When Rich Osborn, president and managing partner of TELUS Ventures, evaluated the indoor garden space, he told TechCrunch that Adams and his team rose to the top of the list because of their background, data experience and syndication with Amazon.<\/p>\n

Not only was consumer demand there for these kinds of products, but the sustainability and social impact created from these kinds of investments couldn\u2019t be overemphasized, he said.<\/p>\n

Nishan Majarian, co-founder and CEO of TELUS Agriculture, said he sees a future where there is a spectrum of food growth, and crop management will be at the plant level.<\/p>\n

\u201cEver since Climate Corp. was acquired<\/a> by Monsanto, there has been a massive influx into agriculture to get to the next billion-dollar exit,\u201d Majarian added. \u201cAgrifood is the last segmented supply chain. Every crop is different, every market is different. That makes it local, complex and fertile soil \u2014 pun intended \u2014 for startups who get capital to solve those issues and scale.\u201d<\/p>\n

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Farmland could be the next big asset class modernized by marketplace startups<\/a><\/p>\n<\/blockquote>\n

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\u00a0<\/p>\n

Article source: https:\/\/techcrunch.com\/2021\/07\/19\/rise-gardens-grows-with-9m-series-a-to-help-anyone-be-an-indoor-farmer\/<\/p>","protected":false},"excerpt":{"rendered":"

As more consumers embrace plant-based diets and sustainable food practices, Rise Gardens is giving anyone the ability to have a green thumb from the comfort of their own home. The <\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[17],"tags":[23],"class_list":["post-25335","post","type-post","status-publish","format-standard","hentry","category-networking-and-communication","tag-network-and-communication"],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t