Entrepreneurs far and wide are trying to cash in on building products for wine consumers (B2C) and winemakers / retailers (B2B).
On the consumer-side, two themes stand out:
- Wine Preservation
- Subscription Wine Services
And, on the B2B side:
- Inventory Management
- Winery Management
The consumer businesses seem to be attracting far greater venture funding, given the large market opportunity versus the limited market within the B2B wine realm.
If I were budding entrepreneur in the space, the B2B businesses seem potentially interesting if purchased through a search-fund model. Also, there appears to be a gap in the market for wine-focused marketing solutions --- as we continue to hear in class, winemakers have very specific needs when it comes to marketing their products; it seems like there might be an opportunity to build a niche product or services business in this segment, particularly if the entrepreneur (me?? you?!) can build a database of wine consumers & preferences over time and action them through online marketing or through direct mail.
Here's a list of some companies playing to both sides of the space:
B2C
- Coravin - bottle opener / aerator - $62M raised
- L18 Holdings - subscription wine service - $131M raised
- Winc - subscription wine service - $42M raised
- Penrose Hill - personalized wine subscription - $7.3M raised
- Plum - wine pouring / preservation - $9M
- Kuvee - wine pouring / preservation - $6M
B2B
- Drync - inventory software for alcohol retailers - $4.4M raised
- Orion - winery management software
- WineSoftware.com - winery management software
- WMDB - winemaker's database / winery management software
- Wine Management Systems - winery management software
Sources:
- https://pitchbook.com/news/articles/you-had-me-at-merlot-vcs-investing-in-a-new-vintage-of-wine-startups
- https://www.cbinsights.com/research/wine-tech-startups-to-watch/
- Angelist
- Crunchbase
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