- Online shop has secured 10 million euro in financing during the past 12 months
- New funding by Black River Ventures will support expansion across Europe
Berlin, May 19, 2015 – Wine in Black, the leading online shop for premium wine has closed a new financing round. Black River Ventures joins as a new investor, with existing investors including Project A Ventures, b-to-v, e.ventures, and Passion Capital also participated in the round. The new funds will be invested into personalizing the user experience, product expansion, growing their customer base and entering new markets. In addition, Wine in Black intends to further recruit experienced experts.
In the first quarter of 2015, Wine in Black passed the threshold of 500,000 registered members, and over the past 12 months the company has raised 10 million euro in venture capital funding.
“We are very happy to have Black River Ventures joining as a strong partner to further our growth, extend our assortment of premium wines, and continue to improve the shopping experience for our customers”, states Christian Hoya, co-founder and managing director of Wine in Black. “Moreover, we truly appreciate the trust of our existing investors who participated once again in this round”, adds his colleague Stephan Linden.
“The combination of curated premium wines and high quality content addresses a growing target group out of which Wine in Black is generating its impressive and loyal customer base”, states Andrey Daleky, Partner of Black River Ventures. “We want to support Wine in Black with our investment in becoming the leading European player in its segment.”
“Wine in Black is a good example of how e-commerce business models can evolve with innovative approaches and excellent execution in verticals which have already been existing for a while”, says Florian Heinemann, co-founder and managing director of Project A Ventures. “We invested and supported the company at a very early stage. We are very happy to see its sustainable development and are convinced that Wine in Black will continue growing strongly in future.”
Wine in Black is an exclusive online shop for premium wine with customers between 30 and 45 years old who love to discover new wines every day. The wine experts of Wine in Black select a few particularly interesting wines out of hundreds every month and present them with detailed information in the online shop as well as in the Wine in Black wine guide
The European wine market amounts to more than 60 billion euro, with the German market accounting for 9 billion euro. The premium segment starts at 7 euro per bottle and represents about half of the market. The online share in the wine industry is in the low one-digit percentage range but grows strongly as does the overall online market for food, in which several other large investments have recently taken place.
About Wine in Black
Wine in Black offers a constantly changing assortment of well-chosen premium wines. Experienced wine experts select these wines with a focus on quality. In the company’s online shop, the wines are presented with additional information on their origin and quality. Wine in Black’s mission is to make wine shopping much easier and more individual, in particular for wine lovers with less knowledge about wine. More than 350.000 members regularly receive newest wine discoveries and offers by newsletter and social media. For more information visit www.wine-in-black.de/.
Press contact Wine in Black
Tel: +49 40 38 02 38 66
About Black River Ventures
Black River Ventures is investing into innovative companies across the European technology space, primarily in the IT and Internet segments. Black River Ventures partners with early and growth stage visionary companies aiming to become industry leaders. Their mission is to provide smart capital for long-term growth by leveraging the collective experience and expertise of the BRV team based in the EU and US. For more information visit brv.vc..