Cannabis Auto-Grow Tech Startup Seedo Raises $2 Million

Seedo, listed as Eroll Grow Tech Ltd, the developer of what it calls the world’s first fully-automated grow device for medical cannabis, announced that it raised $2 million from Cannabics Pharmaceuticals, a US-Israeli company that develops personalized cannabinoid medicine focused on cancer and its side effects.

Seedo says its at-home growing device, which looks similar to a mini-fridge, is managed and controlled by an AI-powered algorithm and monitored via a smartphone application. Seedo holds a medical cannabis R&D license from the Israeli Health Ministry.

According to the startup, the device can grow the cannabis plant from seed stage without human intervention over the course of 90 days. Seedo said in a statement that it received over 3,500 orders during a pre-sale stage for some $2,440 per unit.

Seedo CEO Zohar Levy said in a company statement that the device is being used to successfully grow plants for recreational use, and that the startup is working on a prototype to grow plants for medicinal purposes according to physician instructions, which it expects to complete in the first quarter of 2019.

Seedo and Cannabics signed an agreement last month to partner for the development of the personalized growing units that are set to produce “consistent, pesticide-free, pharmaceutical-grade cannabis worldwide on a commercial scale,” according to a previous statement.

Cannabics CEO Eyal Barad said last month that the Bethesda, Maryland-based company was “eager to begin empowering patients to take control over their personal medical cannabis supply, and to begin engaging into a two-way interaction with patients to share their inputs – which along with our lab’s scientific data will allow us to provide current and future patients with relevant information in order to make wiser decisions concerning cannabinoid-based treatments.”