Ferovinum, the innovative funding and supply chain platform for the wine and spirits industry, has successfully closed its Series A funding round, securing £17.5m.
The investment round was spearheaded by Notion Capital, a prominent European SaaS and Cloud investment firm. Notion Capital’s General Partner, Jos White, is set to join Ferovinum’s board following this significant financial injection.
The round also saw contributions from Shapers VC, Semapa Next, and Ferovinum’s existing shareholders.
Ferovinum has developed a comprehensive digital platform that streamlines the funding, production, procurement, and sales processes across global wine and spirits markets. The platform has already facilitated over £170m in transactions within the UK market and has boosted its annual sales by 1,000% since early 2023. To date, Ferovinum has injected over £114m into UK wine and spirits producers, significantly enhancing the flow of capital into these sectors.
The new funds will be used to propel the company into new markets and expand its range of products across both funding and supply chain services. Plans are underway to launch the service in the US and Europe later this year. Ferovinum is collaborating with high-growth entities within the UK drinks sector, including Edinburgh’s Holyrood Distillery & Port of Leith Distillery, Ridgeview Wine Estate, Hundred Hills Winery, and the innovative canned cocktail company Moth Drinks.
Mitchel Fowler, Co-founder & CEO of Ferovinum, commented on the industry’s potential and the company’s mission, “The wine and spirits industry is worth $800 billion annually, and yet we’re running it in an archaic and inefficient way. At Ferovinum, we’re passionate about building technology for the sector in a way that provides the rails for the most exciting next-generation of brands and resellers to succeed. This funding will allow us to do so on a larger scale. We’re so excited to have Notion Capital supporting us – they have a tremendous track record and team when it comes to B2B Software as a Service. Jos White will be an invaluable board member – he’s the Yoda of SaaS!”
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