US-based smart sprinkler developer Rachio has secured $10m in series B capital from investors including Alexa Fund, a unit set up by e-commerce and home technology firm Amazon.
The round also featured investment firm Eastside Partners and growth equity firm Bonaventure Capital. It increased the company’s total financing to at least $20m, including $430,000 in debt, according to securities filings.
Founded in 2013, Rachio has developed a water sprinkler that can be accessed through a mobile app or Amazon’s Alexa voice assistant.
The platform’s features include a precise weather forecasting tool to help customers time the irrigation of their yards, and links to an automated flow meter to prevent flooding.
Alexa Fund invested an undisclosed amount in Rachio in August 2015, three months before Rachio raised $7.1m in a series A round led by Arborview Capital that included Michigan eLab, Hallett Capital and Miramar Digital Ventures.