Canada’s TELUS Ventures led the oversubscribed round, joined by True Ventures, Amazon Alexa Fund, and new investor Listen Ventures
CHICAGO, July 19, 2021 /PRNewswire/ — Rise Gardens, which makes indoor, smart hydroponic garden systems, today announced it has raised $9 million in an oversubscribed Series A round, led by TELUS Ventures, Canada’s most active corporate venture capital fund. Current Rise Gardens investors True Ventures and Amazon Alexa Fund also participated in the round, along with new investor Listen Ventures, bringing the total amount raised to date to $13 million. The additional funds will be used to continue the company’s product innovation and expansion into new markets.
“We’re thrilled with the opportunity to grow and expand our product offerings and reach an even wider audience in the US, Canada and around the world,” said Hank Adams, Founder and CEO, Rise Gardens. “This investment will help us toward achieving our mission of connecting people to the food they eat and creating a new generation of conscientious food consumers.”
Rise Gardens makes an IoT-connected, indoor hydroponic gardening system that comes with everything needed to grow a wide variety of vegetables, herbs and microgreens at home, year-round. The systems are designed with simplicity in mind, including a mobile app that monitors water levels and plant progress, and reminds users when and how much to water, fertilize, and care for their plants. Rise Gardens’ Family Garden has a…
