Just one year ago I wrote a post about the top 7 Wine Tech investments in 2019 and just now I know what’s your first question: why 7?
Well, simple answer: I found 6 of them, but even numbers in Internet have low interest, so I used 7. I could use 5, but you’re my readers and I had to give you something more, not less.
Coming back to the topic, I wondered myself: what changed until now? Is that ranking true again or there have been any variation in it?
A little recap. In 2019 the amount of U.S. wine tech investments were 924,4 M$, and 20 B$ in food and agritech sector. 20 times lower.
When I talk about wine tech we have to agree with that word: what ‘wine tech’ means? It cannot be just sensors in the vineyard and virtual mapping and others use of digital device. So I have to change the title of this post, substituting ‘wine tech’ with ‘digital wine’. Ok but so, what is Digital Wine? I mean with this all platforms, devices, processes too, using digital technology to produce, sell, communicate, the wine. DTC (Direct to Consumer) is one result of the digitalization of wine, but also optimization of logistics is it, and online tastings and many other stuff do. But using this concept, we kept out Coravin because there’re nothing of digital in a new model of cork.
So maybe wine tech is the best definition, as well, because it means technology about wine and we can put into it also bottling machine, for example, or CMS. Wine tech can be digital or not, but surely digitalization is the main theme of these last 18 months.
As I told in my 2020 post, wine is a niche of food, and wine tech is a niche of wine market, and it’s actually interesting because is linked to a concept of fun, free time and luxury. The wine has a great appeal, it generates stories and photos on social media. Until 2020 the ranking of total fundings for wine tech companies was this:
- Drizly — 119,6 M$
- Wine.com — 70,2 M$
- Coravin — 64,3 M$
- Vivino — 63,8 M$
- Winc — 54,2 M$
- Lot18 — 44,5 M$
- Vinventions — 22 M$
Said this, let’s look about how wine tech investments in 2020 has changed, the top…