Ferovinum Secures £17.5M Series A Funding Round
Ferovinum, a dynamic funding and supply chain platform tailored specifically for businesses in the wine and spirits sectors, has proudly announced the successful closure of its notable £17.5 million Series A funding round. Leading this significant financial endeavor is Notion Capital, a prominent European venture capital firm specializing in SaaS and cloud-based innovations. Joining the Ferovinum board as a new member will be Jos White, a General Partner at Notion Capital. This round of financing not only saw the enthusiasm of Notion Capital but also attracted contributions from Shapers VC, Semapa Next, and a number of existing shareholders within the Ferovinum ecosystem, underscoring the investors' keen interest in revolutionizing this intricately woven industry.
The challenges faced by businesses in the drinks sector are manifold, including liquidity constraints where funds are often immobilized in stock, outdated supply chain processes, and the complexities imposed by stringent regulations across global markets.
In response to these difficulties, Ferovinum has developed an innovative, end-to-end digital platform designed to streamline funding, production, procurement, and sales activities within the global markets for wine and spirits. Demonstrating significant traction in the UK market, Ferovinum has successfully facilitated over £170 million in product transactions, augmented by an astonishing 1,000% growth in annual sales since the beginning of 2023. Furthermore, the company has channeled more than £114 million of funding specifically to support UK wine and spirits producers, enabling a seamless flow of capital from the markets into these vital industries.
This latest injection of funds is poised to empower Ferovinum to further expand its market reach and diversify its offerings in both funding and supply chain solutions. The platform’s highly anticipated launch in the US and Europe is set to occur later this year. Ferovinum is collaborating with a host of promising customers across the UK's vibrant drinks landscape, including Edinburgh’s innovative distilleries such as Holyrood Distillery and Port of Leith Distillery. Additionally, it has positioned itself as the foremost provider of working capital for the English sparkling wine industry, partnering with trailblazers like Ridgeview Wine Estate and Hundred Hills Winery. Mitchel Fowler, the Co-founder and CEO of Ferovinum, articulates a passionate vision for transforming the wine and spirits industry, highlighting that despite its considerable annual value of $800 billion, the sector is often managed in a way that lacks efficiency and modern technological leverage.
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