Alphabeet receives 1.15 million euros

The start-up wants to expand internationally in the future and is changing its name to "Fryd".

The Stuttgart-based garden start-up Alphabeet has successfully completed its seed investment round. The company was able to land 1.15 million euros. Investors included the venture capital company Purpose Ventures and the specialist seed retailer Samenhaus Müller. Several private investors and business angels are also involved. Alphabeet has developed an app to help hobby gardeners grow vegetables organically.

The start-up is now facing a number of changes: Among other things, the company wants to use the money to expand internationally. And the company's name is also changing: Alphabeet will become Fryd from 2022. However, there is one thing the start-up says it is not aiming for: it is not exit-oriented. Instead, the company explains that it sees itself as a "purpose company" that should be operated under "responsible ownership". The financing round was therefore implemented with subordinated loans.

Alphabeet initially launched in 2018 under the name Farmee, initially in the vertical farming market. In 2019, the company focused on the hobby garden segment. At that time, it also received funding from the German Federal Environmental Foundation. The company's app has been on the market since 2020. Around 100,000 registered users are already on board.