ecoSPIRITS Secures $10 Million for Sustainable Innovations
ecoSPIRITS, a forward-thinking technology company based in Singapore, is making significant strides in the realm of circular economy solutions, particularly tailored for the premium wine and spirits industry. Recently, the company successfully secured $10 million in Series A funding, a testament to the growing interest and investment in sustainable practices. This funding round attracted notable participants, including the venture capital fund of Pernod Ricard, known as Convivialité Ventures, as well as New York’s Circular Economy investment fund, Closed Loop Partners. Other notable contributors included Asian and global investors such as Proterra Asia, Pavilion Capital, and Wavemaker Partners, highlighting a robust international interest in the company’s innovative solutions.
The funds raised will be instrumental in accelerating ecoSPIRITS' ambitious research and development programs.
With plans to enhance its hardware, software, and Internet-of-Things (IoT) initiatives, the company aims to push the boundaries of what is possible in sustainable distribution systems. Furthermore, ecoSPIRITS intends to scale its operations in key markets, especially in the United States, where demand for sustainable practices in the alcohol industry is rapidly growing. The company also plans to strengthen its regional customer base and engineering teams across vibrant cities such as Miami, London, Shanghai, and its home base of Singapore, ensuring that it meets the increasing need for eco-friendly alternatives in these major markets.
Founded in 2018, ecoSPIRITS has rapidly established itself as a pioneer in low carbon and low waste distribution technologies designed specifically for the spirits sector. The company has developed a groundbreaking patent-pending closed-loop technology that has begun to take root in 25 countries around the globe. Currently, ecoSPIRITS operates in more than 15 countries in the Asia Pacific, Europe, and the Americas, where over 1,500 bars, restaurants, and hotels have already embraced its sustainable distribution system. The widespread adoption of ecoSPIRITS' technology is a clear indicator of a growing awareness and commitment to sustainability within the hospitality industry, positioning ecoSPIRITS as a leader in this evolving landscape.
They've invested in ecoSPIRITS
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