Sensor manufacturer surpasses $2m fundraising target

Edyn, a garden sensor manufacturer, has exceeded its $2 million pre-Series A funding target on AgFunder.

At the campaign’s close earlier this month, the company had raised nearly $2.1 million, but there are still some investors doing due diligence on the company that might commit before the end of the month, said Jason Aramburu, chief executive and founder.

Depending on these commitments, the round might become the firm’s Series A, but Aramburu would not disclose their size.

“These late investors are a combination of people that saw how well the campaign did and wanted to get in on it and those that had just heard about it,” he said. “There are some that are just bigger, more institutional funds that naturally take more time.”

Venture capital firms Indicator Ventures, Innovation Works and Queensbridge Venture Capital have all committed to the round so far. There are also super angels, private equity, venture capital and strategic investors in the book, according to Aramburu.

While Edyn is currently targeting the consumer market, its technology can be applied to larger agriculture production and the company has attracted interest from agribusinesses already, said Aramburu.

Aramburu said that listing the company on AgFunder enabled him to access investors he “wouldn’t have known about otherwise”.