Crurated raises $7.2MM to further innovate blockchain-based wine community and expand market reach
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After another successful year, the company will also start collaborating with wine producers outside of France and Italy
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LONDON, Jan. 17, 2023 (GLOBE NEWSWIRE) — Crurated, the London-based membership wine community designed to connect connoisseurs with world-class producers, announced today that the company has raised $7.2MM from a group of private investors. The money will be used to further develop the technology platform, expand manufacturer partnerships beyond France and Italy, and increase overall market share worldwide.
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“The past year has been both innovative and successful for our entire team and the producers we’ve partnered with,” said Alfonso de Gaetano, founder of Crurated. “In addition to becoming the first wine community to offer fractional barrel sales supported by NFT technology, we signed an exclusive distribution agreement with Charles Lachaux, expanded our list of producers to more than 60, and have attracted a younger demographic of oenophiles to the platform. “
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Crurated reports that 70% of its membership is under 45 years of age. With 35% of these members under the age of 35, younger than the majority of wine buyers who lean at 45+. The team believes that Crurated’s direct partnership with the world’s best wine producers, innovative approaches to how wine is purchased on the platform – traditional lot purchases/auctions and the sale of fractional barrels – as well as the use of NFTs to validate a wine’s authenticity are helping to increase interest in wine with a younger demographic.
In addition, revenues increased by 214% in the first half of the second year compared to the first half of the first year. Membership grew by 180% in the first half of year 2 vs. first half of year 1 and is up 400% year to date.
About Crurated
Launched in 2021 with a focus on France and Italy, Crurated is a membership-based wine community designed to connect connoisseurs with world-class producers. A team of specialists provides personalized services and authentic experiences, while Crurated’s seamless logistics service guarantees quality and provenance thanks to secure wine cellar storage and innovative blockchain technology. For more on Crurated, visit crurated.com.
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Michael Volpatt
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