Estonia-based smart indoor garden producer Click & Grow has raised $11m in funding from investors including furniture retailer Ingka Group and domestic equipment producer Groupe SEB.
Ingka, the parent company of home products supplier Ikea, and SEB, which invested through corporate venture capital unit SEB Alliance, co-led the round with Angels VC and were joined by incubator Y Combinator and venture capital firm Yunqi VC.
Founded in 2009, Click & Grow provides small-scale, electric-powered, self-watering indoor gardens that enable people to grow fresh pesticide-free food in their homes without the need for manual watering and fertilisation.
Groupe SEB, which already owns brands such as Krups, Rowenta, Moulinex and Tefal, became a co-branding and distributor partner for Click & Grow in France, Germany, Austria and Switzerland earlier this year
François-Xavier Meyer, head of corporate venture capital for SEB, said: “We see indoor gardening becoming a promising trend for home/office. We are convinced by the leading edge of Click & Grow products and technology in this domain.
“We strongly believe in our capacity to help the company in its future development on the base of co-branding with (SEB’s household and garden product subsidiary) EMSA and leveraging our worldwide presence.”
Click & Grow had previously raised $4.1m in equity financing from backers including angel investors Jaan Tallinn and Ruchi Sanghv in addition to an undisclosed amount of government funding as of November 2016, according to TechCrunch.
Image courtesy of Click & Grow.