Vivino has announced they have raised €16 million ($20 million) in a new funding round. This round is led by SCP Neptune International, the investment arm of Christophe Navarre from LVMH Moët Hennessy Louis Vuitton.
“Heini and Theis have managed to take over the world of wine. Not only do they have a very active user base that explores more than two million wines a day, they also sell wine now. In the US alone, you can buy more than 130.000 different kinds of wine.” SEED Capital states.
Vivino’s has grown not just in users, but also in sales. It is reported that it’s marketplace sales in December 2017 were four times that of the previous December, fueled by growth in existing markets as well as the addition of six new markets.
The series C investment brings Vivino’s total funding to €46 million since it was founded in 2010. It will enable the startup to continue to develop technology that delivers a seamless multi-channel commerce experience, and to further invest in its team. Vivino will also extend commerce initiatives to new markets like Hong Kong. The goal is ambitious: selling $1 billion of wine by 2020.
SEED Capital contributed to the round along with Balderton Capital, Creandum and Iconical, who all are existing investors in Vivino.