Founder and chief executive of Edyn, Jason Aramburu.edyn.com
From drought to El Nio storms, home gardeners throughout the U.S. are combating the effects of extreme weather. To help them make choices about what to plant and when, and nurture their gardens without wasting water, Oakland, Calif.-based startup Edyn has attracted $2 million in seed funding. The investment, led by Fenox Venture Capital, comes as venture capital interest in the sector has grown. Venture-capital firms poured $208.75 million into agriculture and forestry businesses in the U.S. last year, up from $183.71 million in 2014, according to Dow Jones VentureSource. Incorporated as Soil IQ Inc., Edyns products include a smart soil sensor, water valve and mobile app that let would-be green thumbs put their sprinkler systems on autopilot and gather data about the condition of their soil. The soil sensor, which can be purchased as a stand-alone item, costs $99 and the water valve costs $69 while the app, available for iOS or Android devices, is free to download and use in conjunction with the hardware. Edyns smart water valve and soil sensor.edyn.com Several big-picture trends are driving demand for Edyns products, said Chief Executive and founder Jason Aramburu. Beyond weather, a lot of growers are shifting towards edible and ornamental home gardening, window boxes or rooftop gardens. They dont want cookie cutter manicured lawns, or they dont live in a place where they can even have a lawn. Millennials appetite for specialty foods has also led to such gardeners wanting to devote time and resources to growing something they can show off or eat and bring to a party, the CEO said. Additional investors in Edyns seed round included Idea Bulb Ventures, Morningside Group, Indicator Ventures and individual angel investors involved in commercial agriculture, the CEO said. The company is competing against myriad other smart soil and irrigation system makers including venture-backed CropX, which targets commercial farmers, and Rachio Inc., as well as Koubachi AG and drone-tech company Parrots Flower Power system. Read VentureWire for the full story including what Fenox Venture Capitals Vivek Ladsariya expects Edynto do with its funding. Write to Lora Kolodny at [email protected]. Follow her on Twitter at @lorakolodny
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. Archives
November 2018
Categories |