Crurated Raises $7.2 MM to Further Innovate Blockchain-Based Wine Community and Expand Market Reach
After another successful year the company will also begin to partner with wine producers beyond France and Italy
LONDON, Jan. 17, 2023 (GLOBE NEWSWIRE) -- Crurated, the London-based membership wine community designed to connect connoisseurs with world-class producers, today announced that the company has raised $7.2 MM from a group of private investors. The money will be used to further evolve the technology platform, expand producer partnerships beyond France and Italy, and increase overall market share across the globe.
“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 backed by NFT technology, we signed an exclusive distribution deal with Charles Lachaux, grew our roster of producers to more than 60, and have attracted a younger demographic of oenophiles onto the platform.”
Crurated reports that 70% of its member base is below the age of 45. With 35% of those members under the age of 35, younger than the majority of wine buyers which skews at 45+. The team believes that Crurated’s direct partnerships with the world’s top wine producers, innovative approach to how wine is purchased on the platform — traditional lot purchases/auctions and fractional barrel sales — as well as the use of NFTs to validate a wine's authenticity is helping to increase the interest in wine with a younger demographic.
In addition, revenues were up 214% in the first half of year two vs. the first half of year one. Membership grew by 180% in the first half of year 2 vs. the first half of year 1 and is up 400% year to date.
About Crurated
Launched in 2021 with an emphasis 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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