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Nurtio progress update: May 2023



1. Product

2. Market and sales

3. Team

4. Finance and funding

Need a quick recap? Check our pitch deck.

1. Product
1. Product

The main mission of Nurtio Technologies is reconnecting humans and plants in a better, more efficient way. To do that, we have developed connected gardening technology explicitly tailored to the needs of commercial real estate. 

Earlier, we used to offer this technology as a single product - mainly to be used by professional plant service companies. However, last year we realized that the same technology could be packaged and offered as a number of products for different groups of customers. This structured approach will allow us to introduce a more structured approach to sales and marketing, de-risk our product offering, and in the end, focus on the market opportunity with the strongest commercial potential. 

The current product portfolio of Nurtio Technologies (including both existing products and the ones in the making) is as follows: 

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Nurtio Protect is a product that has been on the market since mid-2022. It is showing great traction, and to date, we have delivered 58 projects with Nurtio Protect sensors to 31 paying customers. It is worth noting that the existing customers really like this product, which is confirmed by their positive reviews as well as the repetitive orders they keep placing. However, the main challenge with Nurtio Protect that we see is that this product is addressing a relatively small market (the high-end plant installations and expensive trees), and eventually, we might hit the ceiling of the market limitations.
For Nurtio Protect, a few new software features still have to be made, but this still doesn’t keep us from selling it as is. The hardware component of Nurtio Protect is now factory-produced and selling effectively in Europe and North America, however we continuously strive to build our core value proposition around the software features that come with the product, not the hardware ones.

The software-only Nurtio Insight is a spin-off product we decided to launch because in 80% of our customer conversations, we kept hearing that this technology would be life-saving for them. Moreover, it presents us with an opportunity to build up a stable SaaS cash flow and provide us with additional “insurance” in case the chip market becomes as turbulent as it has become since the COVID pandemic. On top of that, this product would serve us as an excellent customer lock-in - for the customers that will put thousands of their plants in our system, switching to any other software solution would be problematic, if not impossible. Currently, we are finishing the MVP of this product which has already been tested with 9 launching customers. In Q2 2023, we will be rolling out this product commercially, and already have a waiting list of 22 customers that want to buy it.

Nurtio Smart Service is something our customers have also been asking for, but for now, we decided to put this concept aside and focus on the products with more traction and/or higher commercial potential.

Nurtio DIY is the product we are preparing for the SME and HoReCa. The idea is that for customers with only a few plants, it is too expensive to hire a contracted gardener, yet they still keep losing their plants as they don’t know how to take care of them. Nurtio sensors can fill in this gap. An advantage of this product is that it’s bringing us to a huge 1B-worth TAM with a much stronger value proposition that is truly disruptive as opposed to the assistive nature of the other products. We are currently running a series of pilot projects, including the project with the restaurant chain La Place. If these pilot projects are successful and we score the follow-up contracts, we will be opening access to a huge market.

Nurtio Assist is a product similar to Nurtio DIY but targeted towards the cleaning companies that, with the help of Nurtio, can now provide indoor plant maintenance services to their clients using existing workforce and almost no additional investments. This product also gives us access to the 1B-worth TAM. However, due to the need to prioritize, we decided to postpone the validation activities for this product.

2. Market and sales
2. Market and sales

With the two products of Nurtio that are currently on the market - Nurtio Protect and Nurtio Insight - we’ve been practicing mostly the direct sales approach. This approach allowed us to stay closer to the customer and be able to better understand their needs, their buying behavior, and also to finetune our marketing communications for this segment.

In the last quarter, we have also visited several industry shows and met customers in person. The largest of them was the Tropical Plant International Expo held in Tampa, Florida, in January 2023. This year, we were not exhibiting, but we still had a chance to network and present our products formally (we had a speaker slot) and informally. The effect of that participation was fantastic, and we brought back a large pipeline of new customers and new deals. In the coming quarters, we will keep doing this by visiting the other industry trade shows in Europe and the US.

In the meantime, we also started building several trade partnerships that will allow us to get access to more target customers faster and at a lower CAC. Our two new partnerships to name are:

  • the partnership with the company LEAF that produces office furniture pieces with plants embedded in them; from now on, Nurtio sensors are a part of the product portfolio offered by LEAF, and we already can see that this bundled proposition is gaining some serious traction amongst the customers in the Netherlands and Nordics

  • the partnership with Nature’s Green, the manufacturer of the NextGen Living Walls that have been selling globally for over 10 years; Nurtio Protect is the product that perfectly complements the own value proposition of Nature’s Green, and is now offered as an additional module to the NextGen’s customers allowing to remotely monitor their existing and new living walls

We are also currently working on a few other partnerships of a similar nature and hope to happily report the kick-off of those in the next quarterly report.

3. Team
3. Team

The in-house team remains at four people: 


The in-house team is complemented by our permanent freelance contractor in the field of graphical design and production of marketing materials - Elyzaveta Karakhim.

We are also currently at the last stage of hiring a new team member to join us as a Customer Care Representative.

Nurtio continues collaboration with three external partners: Jitter (electronics), Bureau Delta (mechanical engineering and design for manufacturing), and Dekimo (supply chain and hardware manufacturing), which allows us to source all the narrow expertise without inflating our OPEX.

4. Finance and funding
4. Finance and funding

In January 2023, we received our first private investment from the Dutch impact fund Shamrock Ventures. The investment was structured as a convertible loan agreement that would help us bring Nurtio Insight to the market and build up the sales of Nurtio Protect.

Yet, with the growing traction for the first two products as well as the high chance of rolling out the new ones - Nurtio DIY and Nurtio Assist - we will be looking at raising more capital in Q2-Q3 2023. This will help us speed up the development of the new product features meant to strengthen our value proposition at the huge 1B market, as well as build a scalable and highly-efficient sales and customer service department meant to build lasting relationships with our customers.

We are considering two scenarios of the follow-up funding:

Scenario 1

- One 500K investment in mid-2023, no further dilution planned

 - Selling only Protect and Insight

 - Europe and US sold directly, other regions via distributors

 - Slight cost optimizations of the hardware (no redesign)

 - Moderate investments in sales and marketing

 - Growing mostly organically

Projected outcomes:

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Scenario 2

- One 1.5M investment in mid-2023, no further dilution planned

 - Adding Nurtio Outdoor and Nurtio DIY to the product portfolio

 - Bigger teams in Europe and US, other regions still via distributors

 - Full cost optimization of the indoor sensor and design of the outdoor sensor in 2023-2024

 - Higher investments in sales and marketing

 - Accelerating the sales by growing in-house sales teams

Projected outcomes:

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Having questions or would like to discuss the potential investment before the round is open?

Please don’t hesitate to message our CEO, Iryna van der Meij at or DM her on LinkedIn

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