Thrive Smart Systems Secures $600,000 Investment Boost
Thrive Smart Systems Secures Funding for Innovative Irrigation Solutions
Thrive Smart Systems, renowned for its groundbreaking wireless irrigation technology, has successfully secured a key investment of $600,000 from a group of individual investors associated with Hawai'i Angels. This funding is part of a larger round totaling $1 million, aimed at supporting the company’s growth and launch of new products.
Revolutionary Wireless Technology Enhancing Irrigation
The Thrive EVO™ stands out as a transformative product in irrigation management, eliminating the traditional wiring that connects controllers to valves. This innovative approach not only alleviates the headaches associated with physical wires but also significantly enhances the efficiency of water usage in landscaping.
By adopting Thrive's fully wireless solution, installers can minimize both installation complexity and maintenance costs, ensuring reliable operation over long distances. Imagine completing irrigation installations in half the time, ultimately expanding project capacity without the hassle of trenching and burying wires.
Adapting to Industry Needs with New Cloud Technology
In the upcoming year, Thrive is set to introduce a cloud-connected version of its irrigation technology, which further optimizes its wireless functionality. This new iteration will enhance operational flexibility, allowing for virtually unlimited range and eliminating the need for physical irrigation controllers altogether, paving the way for a new standard in landscape irrigation.
With a surge in demand, Thrive’s products have gained popularity among landscaping professionals. Currently, over a thousand units have been deployed in various high-profile locations, including major corporations, educational institutions, and public parks. Such traction indicates a bright future ahead for Thrive in expanding its market presence.
Customer Testimonials Highlighting Efficiency
David Hawk, the Grounds and Irrigation Manager at a well-respected educational institution, shared his positive experience with the Thrive EVO™. He noted, "We installed the Thrive EVO™ a few months ago. Not only was it quick and easy to install, but it saved me the cost of having to horizontal-bore under a city street and disturb the existing landscape. This solution perfectly addresses the common wiring challenges I face on site." This testimonial reflects the practicality and efficiency that Thrive’s technology brings to users.
The Role of Hawai'i Angels in Supporting Startups
The Hawai'i Angels network, which has been instrumental in promoting early-stage companies since its founding, provides more than just capital. Individual members contribute their expertise and valuable connections to empower startups toward success. Their collective support played a pivotal role in Thrive’s recent funding accomplishment.
Joey Katzen, Managing Director of the Hawai'i Angels, expressed enthusiasm for Thrive's mission, stating, "We’re continually seeking out founders tackling significant challenges. Thrive represents a fantastic example of innovation in the irrigation sector. It’s truly exciting to assist such a forward-thinking team in boosting their growth cycle.”
Gratitude from Thrive's Leadership
Seth Bangerter, CEO of Thrive Smart Systems, conveyed appreciation for the support from Hawai'i Angels. He remarked, "We are grateful for the trust placed in us by the Hawai'i Angels team. Their confidence in our vision has been instrumental in advancing our mission and accelerating our growth trajectory." This collaboration is seen as a catalyst for Thrive’s ongoing development.
About Thrive Smart Systems
Based in American Fork, Thrive Smart Systems specializes in delivering state-of-the-art wireless irrigation solutions that eliminate the inconvenience of underground wiring. Trusted for their reliability and ease of integration, Thrive’s products are recognized for simplifying water management while reducing installation costs.
About The Hawai'i Angels
The Hawai'i Angels has been actively investing in innovative startups since 2002. With a focus on early-stage ventures, this network not only provides funding but also offers crucial mentorship and advice to emerging companies, ensuring their sustained growth and success.
Frequently Asked Questions
What does Thrive Smart Systems specialize in?
Thrive Smart Systems focuses on evolving irrigation technology with its wireless solutions, helping to reduce installation woes and enhance water management.
How much funding did Thrive Smart Systems secure?
Thrive secured a lead investment of $600,000 as part of a broader funding round totaling $1 million.
What is the unique feature of the Thrive EVO™ system?
The Thrive EVO™ system eliminates the need for physical wiring between irrigation controllers and valves, significantly reducing installation time and costs.
Who are the Hawai'i Angels?
The Hawai'i Angels is a network of early-stage investors dedicated to supporting innovative startups through funding and mentorship.
What impact does Thrive's technology have on traditional irrigation methods?
Thrive's technology proposes a major shift away from traditional wired systems, offering flexibility, reduced costs, and improved efficiency in water management.
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