Vancouver-based IoT startup closes round for artificial intelligence-enabled indoor gardening system ‘AVA Byte’
VANCOUVER, BC– June 5th, 2018, AVA Technologies Inc. (AVA), a Canadian startup that makes a pod-based grow system for gardening, has closed its first Seed Round of $2.6 million with Vanedge Capital. Proceeds of the financing will be used to launch AVA Byte in 2018 and grow their team.
AVA is on a mission to help the world get growing and revolutionize the production and consumption of indoor, home-grown food. The creators of AVA Byte, a sleek and smart indoor garden for fool-proof, year-round growing, aim to em
power people by giving them access to the freshest, most nutritious, and delicious food. Byte is the first indoor smart garden that combines sensors and artificial intelligence (AI) to provide automated watering and full-spectrum smart lighting, with compostable, nutrient-enriched, pre-seeded plant pods. Designed for a new generation of conscious and connected consumers, AVA Byte promotes sustainable agriculture by enabling customers to grow an array of herbs, vegetables, and tomatoes indoors.
“AVA Byte is one of the most innovative and attractive solutions we’ve seen for this rapidly growing market for indoor growing,” said Paul Lee of Vanedge Capital. “With units pre-sold through their Indiegogo campaign and strong retail interest, what Valerie and the team have accomplished is truly impressive. While consumer hardware is typically not an investment area of ours, AVA is an outlier with recurring sales, proven demand, and a passionate and diverse founding team.”
“As a leading Canadian Venture Capital firm with a number of successful exits, Vanedge is an ideal partner as we scale AVA Byte worldwide,” said Valerie Song, CEO and Co-Founder of AVA Technologies. “We’re extremely humbled and excited to have Vanedge as our partner, not only to provide us with growth capital and strategic connections, but also as proud supporters of the diverse Canadian tech ecosystem.”
Founded in 2016 by food marketer Valerie Song, CEO, and ex-sous chef turned industrial designer Chase Ando, CDO, AVA aims to disconnect people from plastic-packaged produce and reconnect them back to their food. The company was born out of a startup competition where the founders first met Vanedge Capital and discovered how many gardening-challenged individuals wished they could gain instant green thumbs. To date, AVA Technologies has won several awards, including: Small Business BC Best Innovation Award, FWE Pitch for the Purse Top 3 Finalists, Canadian SheEO Winner, Air Canada Sustainability Winner, Gray’s Pitch Tank Design Winner and Vancouver Startup Week “Most Impact” Award.
The company has many new crops and product extensions in its pipeline for release next year. AVA Byte is still available for a limited time on Indiegogo InDemand for a discounted pre-order price of $229 and will be shipping this Fall (MSRP $299).
To view the media kit, click here.
About AVA Technologies
AVA Technologies Inc. is a Vancouver-based IoT startup on a mission to feed the world’s transition to sustainable food. Founded by a group of young, ethnically and gender diverse foodies, AVA integrates food, science, design, and technology to craft meaningful solutions to big world problems starting with an indoor smart garden to grow fresh ingredients right at the point of consumption. AVA’s flagship product AVA Byte, launched to Indiegogo June 2017 and pre-sold more than $130,000 worth of gardens. AVA Byte is redefining modern agriculture by bringing it into the home, restaurant, classroom and grocery store. For more information, visit http://avagrows.com/.
About Vanedge Capital
Vanedge Capital is a Vancouver based early-stage venture capital fund investing in technology inflection points in cloud computing, artificial intelligence, cyber security, SaaS and digital media. As entrepreneurs and investors, we have built and led world-class companies using a unique combination of operating leadership and management; subject matter expertise; relationships with technology, creative, and management talent. Vanedge has over $298M in assets under management. For more information, visit https://www.vanedgecapital.com/
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