weed grow box kickstarter

Weed grow box kickstarter

2. Partnered with Snoop Dog for $1M cash and the option to purchase $1.4M in company shares at a discounted price. Their most expensive marketing stunt yet, it was most certainly a last ditch effort to boost sales and help secure further investment.

EcoQube Air – April 4, 2016 – $305,747

By December 2020 the company officially filed for bankruptcy protection and went under with $2.5M in customer deposits and millions more in debt.

That pitch helped the company gain immediate attention and consumer support. LEAF began accepting pre-orders shortly after in early 2016 with a shipping date of late 2016. As most start-ups discover, it takes more time and money to produce a product than anyone expects. To help fund their operations, LEAF opened up a funding campaign on SeedInvest in 2017 which raised $2M USD. Their projections revealed that both the CEO and CTO were making $200K USD each per year and, as such, the funds didn’t last long.

Seedo

As a whole, the company spent over $20M and shipped only a fraction of what they owed to customers. They tried to take over the world, shipping everywhere at once and building multiple different growing systems all at once. In the end, it proved to be too much.

That wasn’t enough, however, to successfully fund their Kickstarter campaign. Securing only $39K USD of their $250K goal, the campaign was cancelled and by November 2016 the company had posted their last Instagram post. Their website continues to exist to this day, and every once in a while something changes, but for all intensive purposes 7Sensors is officially shut down.

We’re in agreement that home grown food is awesome and the technology is getting closer to making it all economically viable. It will still take years of R&D to accelerate growth and decrease manufacturing costs enough. In this regard, Grobo is taking the Tesla approach. Start with a high value, niche product [Tesla Roadster / Grobo Premium] and then leverage those technological developments to eventually create an affordable mass market product [Model 3].

Phototron

Seedo Farm Rendering

Now, as a hardware company, shipping globally in one fell swoop is a monumental task. Every country has their own electrical certifications, import rules, taxes and duty requirements, recycling requirements, and more. On top of that, you actually need to support your customers. That requires distribution centers and well trained customer support agents.

Weed grow box kickstarter

Leaf, a TechCrunch Disrupt SF 2015 Battlefield company, is leading the revolution with its automated “Plug N’ Plant” home growing system. Leaf’s device is a 4′ x 2′ box that will fit two plants, which will yield between 4-5 ounces of weed.

However, as is the case with most new industries, slow regulation hasn’t stopped innovation.

Marijuana is a sticky subject. Twenty-three states (and D.C) have legalized some form of medical use, but possession, growth and distribution are still illegal in the majority of the United States.

However, this technology comes at a cost. The device will retail for $1,499, which makes it much more expensive than simply growing your plant in the ground. However, the company says that the machine will technically pay for itself after just a few months, as the “retail value” of 4-5 ounces (one growth cycle) is around $1,200.