Ferovinum, a funding and provide chain platform for wine and spirits companies primarily based in London, introduced the completion of its over €20.8 million Sequence A funding spherical. The spherical was led by Notion Capital, a number one European SaaS and Cloud funding agency, whose Common Accomplice Jos White will be part of the Ferovinum board. The oversubscribed spherical additionally has participation from Shapers VC, Semapa Subsequent and Ferovinum’s present shareholder group.
Companies within the drinks trade are confronted with a really particular set of challenges, together with main liquidity constraints (with funds tied up in inventory and fee phrases), a fancy and outdated provide chain, and a extremely regulated international market that creates friction and limitations to promoting internationally. Ferovinum has created an end-to-end digital platform that helps companies fund, produce, procure, and promote to international wine and spirits markets.
The corporate has already seen great development within the UK market, with over £170 million of merchandise transacted by the platform and rising annual gross sales by 1,000% since early 2023. So far, Ferovinum’s platform has deployed over £114m of funding in assist of UK wine and spirits producers, enabling an enormous move from capital markets into the wine and spirits industries. This new funding will allow the corporate to enter new markets and broaden its product set throughout funding and the availability chain. The service may even be launching within the US and Europe later this yr.
Ferovinum is at present working with a spread of high-growth prospects within the UK drinks trade together with two of Edinburgh’s most fun new impartial distilleries; Holyrood Distillery & Port of Leith Distillery, English glowing wine pioneers like Ridgeview Wine Property & Hundred Hills Vineyard (in 2024 Ferovinum has develop into the biggest supplier of working capital to the English glowing wine trade), alongside revolutionary class disruptors like canned cocktail firm Moth Drinks.
Jos White, Common Accomplice at Notion Capital mentioned: “Ferovinum’s platform leverages know-how to offer small and mid-sized gamers within the drinks trade entry to funding, and an built-in set of provide chain providers. On this manner, they permit their prospects to compete extra successfully with giant corporates and, in the end, to unlock development. We couldn’t be extra excited to speculate on this trade disruptor.”
Mitchel Fowler, Ferovinum Co-founder & CEO, added: “The wine and spirits trade is price $800 billion yearly, and but we’re operating it in an archaic and inefficient manner. At Ferovinum, we’re enthusiastic about constructing know-how for the sector in a manner that gives the rails for essentially the most thrilling next-generation manufacturers and resellers to succeed. This funding will enable us to take action on a bigger scale. We’re so excited to have Notion Capital supporting us – they’ve an amazing observe file and group relating to B2B Software program as a Service. Jos White might be a useful board member – he’s the Yoda of SaaS!”
