“Through the hard work of a passionate team, we’ve built a productive, easy-to-use indoor gardening system that consumers love,” noted Hank AdamsFounder and CEO, Rise Gardens. “We are thrilled that True Ventures, with its incredible track record and capabilities, is choosing to invest in us. I am also very grateful for the support of incredible technology leaders who have helped us reach this important milestone. Together, they will help us to have a tangible social impact by improving the nutrition of all our customers.”
Rise Gardens is a smart indoor hydroponic gardening system, complete with everything you need to grow your own food at home all year round. The system is designed with simplicity and variety in mind. The garden, combined with a sophisticated app and supplies mailed to customers, provides a seamless gardening experience perfect for novices and connoisseurs alike. It is modular to allow 1, 2 or 3 levels of growth and can grow everything from greens and herbs to tomatoes and beets. No other system allows for such variety.
“At True, we aspire to work with entrepreneurs like Hank who are focused on changing the way society works in a positive way,” said Jon Callaghan, co-founder of True Ventures. “The Rise Gardens team is developing an inspiring product that makes indoor farming simple and accessible, allowing customers to grow their own food and gain more control over their own food supply chain. We are impressed with their growth and look forward to helping them grow.”
Rise Gardens’ successful seed round includes leaders from the investment and business community. In addition to several unnamed tech heavyweights from Chicago and San Francisco the round includes: Michael Alter (Alter Group, WNBA Sky), Pat Vihtelic (Founder, Chef at home), Lee Rosenberg (seasoned venture capitalist), Howard Tullman (former CEO from 1871), Jai Shekhawat (founder of Fieldglass), Doug Fogelson (artist and investor) and Pamela Roussos (Director of Innovation at the Miller Center for Social Entrepreneurship, Santa Clara University).
The round follows a period of exponential growth for the company since its launch in the fourth quarter of 2019. Sales have doubled every month since January with a growth rate of 750% over the previous quarter. Customers have planted 6,000 plants in the past two months alone, or 1,500 pounds of produce grown for more than 300 families across United States, Canada and Mexico.
About Rise Gardens
Gardens of the climb is an innovative consumer product designed for indoor hydroponic vegetable growing. The system makes a complicated process easy, productive and fun for gardeners constrained by busy schedules, short growing seasons or access to land in urban settings. It is a platform that allows for expansion and grows a wide variety of greens and vegetables. Rise Gardens is a mission-driven company that encourages better nutrition and healthy outcomes by partnering with schools to bring nutrition education into the classroom.
About True Ventures
Founded in 2005, True Ventures is a Silicon Valley-based venture capital firm that invests in early-stage technology startups. With over $2 billion under management, True provides seed and Series A financing to entrepreneurs in today’s fastest growing markets. The True team believes that creativity flourishes when founders are fully supported and empowered to pursue courageous ideas. To this end, the firm offers programs that inspire professional and personal growth. To date, True has helped over 300 companies launch and grow their businesses, creating over 20,000 jobs worldwide. To learn more, visit www.trueventures.com.
For more information about Rise Gardens and their products, visit www.risegardens.com.
Contact: [email protected]773-912-3386
SOURCE Rise Gardens