Massachusetts-based Coravin Inc., raised $13.6 million in a Series C fundraising led by New York-based Windham Venture Partners, and involving Paris-based Quadrille Capital.
Coravin developed the Coravin Wine System, which allows consumers to access and pour wine from any bottle without pulling the cork. The system, which is being rapidly adopted by restaurants, wineries, and global distribution partners, allows for the consumption of any amount of wine at any rate without having to commit to a full bottle, or worrying about spoilage or waste.
Since its launch in 2013, Coravin has seen consistent growth and global expansion. The funds from the round will be used to support research and development, increase awareness, drive market expansion, and broaden penetration within consumer, distributor and retail channels.
“Coravin is a brilliant example of a breakthrough technology developed in the US and deployed swiftly in Europe and soon in Asia, opening up brand new wine drinking experiences. Its high standard of innovation, steep growth rate and almost simultaneous launch in the US and in Europe are a great fit with our investment strategy,” said Jerome Chevalier, President of Quadrille Capital.
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