Funding Round attributes
Wine and spirits supply chain platform, Ferovinum, has successfully closed an oversubscribed $23.3 million Series A. The round was led by Notion Capital, a European investment firm who specialise in SaaS and Cloud businesses. As part of this round, Jos White, General Partner at Notion Capital, will join Ferovinum’s board of directors. Further participation also came from Shapers VC, Semapa Next, and Ferovinum’s existing shareholder group. The new funding is set to grow their platform, accelerate the company’s overseas expansion alongside ensuring continued support to their existing customer base in the UK.
Ferovonium’s platform seeks to address the existing issues in the wine and spirits industry. Currently, the sector faces liquidity constraints, outdated supply chains and a highly regulated global market resulting in complicated international sales. They offer a digital solution in order to create global product sales. As it stands, they have facilitated the sale of over $226.4 million worth of products. This success is reflected in their growth, which, since 2023 has been an increase of 1000% in annual sales.
The new funding is set to allow Ferovinum to expand their operations into new markets such as the US and Europe towards the end of the year. The investment is also set to aid the company’s plans to broaden their products in order to benefit businesses across the drinks industry. The platform already serves a large group of high-growth customers in the UK, such as Holyrood Distillery and Port of Leith Distillery, Ridgeview Wine Estate, Hundred Hills Winery, and canned cocktail company Moth Drinks. Ferovinum’s efforts have made it the largest provider of working capital to the English sparkling wine industry in 2024.
Jos White from Notion CapitalS stated: “Ferovinum’s platform leverages technology to give small and mid-sized players in the drinks industry access to funding, and an integrated set of supply chain services. In this way they enable their customers to compete more effectively with the large corporates and, ultimately, to unlock growth. We couldn’t be more excited to invest in this industry disruptor.”
Ferovinum’s co-founder and CEO, Mitchel Fowler, highlighted the inefficiencies in the global wine and spirits industry, stating, “The wine and spirits industry is worth $800 billion annually, and yet we’re running it in an archaic and inefficient way. At Ferovinum, we’re passionate about building technology for the sector in a way that provides the rails for the most exciting next-generation of brands and resellers to succeed. This funding will allow us to do so on a larger scale. We’re so excited to have Notion Capital supporting us – they have a tremendous track record and team when it comes to B2B Software as a Service. Jos White will be an invaluable board member – he’s the Yoda of SaaS!”
