Sprinkler startup flooded with funding

Rachio users can control lawn sprinklers from their phones. Photos courtesy of Rachio.

Rachio users can control lawn sprinklers from their phones. Photos courtesy of Rachio.

Sprinkler system startup Rachio closed a $7.1 million investment round last week, according to an SEC filing.

“With a company with a high growth trajectory, we need working capital,” said Ric Miles, Rachio’s head of product development. “We also need resources to handle the volume.”

The funding will be used to build up inventory and pay for shipping of the Iro, a Wi-Fi enabled device that connects to a house’s sprinkler system to maximize irrigation efficiency, Miles said.

The device is available in all 50 states on Rachio’s website and Amazon, as well as at Home Depot, Best Buy and Apple stores.

Fourteen investors pitched in capital this round, including Arborview Capital, Michigan eLab, and previous investors Hallett Capital and Miramar Digital Ventures, according to the Wall Street Journal.

Rachio also received funding from Amazon earlier this year to integrate its software into Amazon’s Echo device.

The company was founded by Chris Klein in 2012 in the midst of a three-year drought.

Subscribe
Notify of
guest
0 Comments
Inline Feedbacks
View all comments