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GroGuru Raises Over $1 Million in Less Than 48 Hours of WeFunder Campaign Public Launch!

on Jun 29 2020
Patrick Henry, CEO of GroGuru. He's a serial entrepreneur with multiple exits, including an IPO on NASDAQ. 2008 EY Entrepreneur of the Year.

GroGuru has now raised over $1 million in our WeFunder campaign! Thank you for your support and commitment to our mission of helping farmers make more money by increasing crop yield, while more efficiently using water and other scarce resources in a sustainable way!

As many of you know, there is a $1,070,000 limit on how much a company can raise in a Regulating CF equity crowdfunding campaign, but fortunately, we can raise more money by having our accredited investors make their investment through a Regulation D offering on this same WeFunder campaign!

My board of directors has approved our ability to raise more money. This will extend our cash runway, give us additional flexibility to pursue key strategic partnerships, and allow us to accelerate geographic expansion and new product commercialization.

What does this mean for you as an investor? Well, two main things. First, we can create more value prior to raising a Series A preferred stock financing. And second, we can more easily weather an extended recession. Bottom-line, it helps us increase potential upside and mitigate downside risk to your investment.

There was also some big news this week from a couple of sources. Amazon launched a new $2 billion Climate Pledge Fund that will invest in sustainable and decarbonizing technologies. And an article this week in Forbes entitled 'Post-Coronvirus Sustainability Focused Investment as the New Normal?', said that " consumers emerge from the pandemic, with new priorities and patterns of behavior, signs are emerging of an increased interest in impact investing and sustainability." GroGuru is in the right place at the right time!

In a recent academic article titled ‘Can regenerative agriculture practices materially reduce the planet's carbon footprint?’, they answered this question with a resounding ‘YES!’

The article outlined four key practices, and number four was maximizing nutrient and water use efficiency by plants. This is GroGuru’s primary focus. But soil monitoring also indirectly contributes to monitoring the results and benefits of the other three key practices.

Some key upcoming events for us include:

The Plug and Play AgTech Demo Day in late August, where GroGuru has been selected as one of 14 companies out of 1,000 applicants.

In early September, we will be a feature speaker at the OCTANE Technology Innovation Forum in Orange County, which should have over 1,000 attendees live and virtually.

And, in in late September, we will be presenting at the Forbes AgTech Summit as part of the SVG-Thrive Demo Day, which will be seen by thousands of people both live and virtually.

Our business remains strong, and there is nothing more strategically important than to protect our food supply chain.

I have one request for you: Please share your investment decision with your network and friends. You might be thinking, 'What if I get my friends to invest and it is a bust?' But think about it this way: 'What if you DON’T tell them and it is a huge success?' You don’t have to convince anyone of anything. Just let them know about your investment in GroGuru, and let them make their own decision. Thank you again for all of your support!