Friday Fundings: Vivino, Zetwerk, and Good Eggs
Vivino Raises Funds for Wine Recommendations and Sales
Vivino, a wine recommendation app, recently secured $155 million in a Series D round led by Kinnevik with participation from Sprints Capital and GP BullHound. The company has raised $221 million to date.
Vivino allows users to scan wine bottles or wine menus to learn more about them. The app also partners with wine distributors, giving people the opportunity to buy recommended wines directly. Ecommerce alcohol sales have boomed recently. Over the past two years, Vivino’s user base has grown from 29 million to 50 million.
Vivino is not the only alcohol-related app gaining attention from both consumers and investors. Drizly, another pioneer in the online alcohol sales industry, saw its sales rise by 350% last year. Earlier this week it was announced that Uber (UBER) will acquire Drizly.
Zetwerk Raises $120 Million as Manufacturing Moves to India
Zetwerk is a startup based in Bangalore which sells custom-made parts for machines ranging from cranes to medical devices. These parts can often be extremely difficult to find and purchase, so Zetwerk helps streamline the process. The company services a variety of industries, from aerospace engineers to apparel manufacturers.
Zetwerk recently secured $120 million in Series D funding led by Greenoaks Capital and Lightspeed Venture Partners. Many companies are currently moving their manufacturing operations from China to India, which Zetwerk believes will help its customer base grow. With its new funding, Zetwerk will be able to meet rising demand for its services.
Good Eggs Raises Money for Specialized Grocery Delivery
Good Eggs, a grocery delivery startup, recently raised $100 million in fresh funding. The round was led by Glade Brook Capital Partners with participation from GV, Tao Invest, Finistere Ventures, and other investors. The startup is currently focusing on the San Francisco Bay Area, but with the new funding it plans to begin operating in Southern California.
Though the grocery delivery space is very crowded, Good Eggs stands out because 70% of its products are sourced locally. Groceries from Good Eggs are often delivered within just a few days of being harvested.
Please understand that this information provided is general in nature and shouldn’t be construed as a recommendation or solicitation of any products offered by SoFi’s affiliates and subsidiaries. In addition, this information is by no means meant to provide investment or financial advice, nor is it intended to serve as the basis for any investment decision or recommendation to buy or sell any asset. Keep in mind that investing involves risk, and past performance of an asset never guarantees future results or returns. It’s important for investors to consider their specific financial needs, goals, and risk profile before making an investment decision.
The information and analysis provided through hyperlinks to third party websites, while believed to be accurate, cannot be guaranteed by SoFi. These links are provided for informational purposes and should not be viewed as an endorsement. No brands or products mentioned are affiliated with SoFi, nor do they endorse or sponsor this content.
Communication of SoFi Wealth LLC an SEC Registered Investment Advisor
SoFi isn’t recommending and is not affiliated with the brands or companies displayed. Brands displayed neither endorse or sponsor this article. Third party trademarks and service marks referenced are property of their respective owners.