ecoSPIRITS, a Singapore-based circular economy technology company focusing on low carbon, low waste distribution systems for the premium wine and spirits industry, raised $10M in Series A funding.
The round saw participation from Pernod Ricard’s (Paris:RI) venture capital fund, Convivialité Ventures, along with New York-based circular economy investment fund Closed Loop Partners and Asian and global investors, including Proterra Asia, Pavilion Capital, and Wavemaker Partners.
The company intends to use the funds to accelerate its research and development program, scale up its hardware, software and Internet-of-Things (IoT) research and development program, expand operations in key markets worldwide, including the United States, and grow its regional customer and engineering teams in Miami, London, Singapore and Shanghai.
Founded in 2018, ecoSPIRITS is a circular economy technology company that has developed a low carbon, low waste distribution technology for the spirits industry. Its patent-pending, closed-loop technology is active in 25 countries worldwide, including many of consumer markets. It is now available in more than 15 countries across Asia Pacific, Europe and the Americas where more than 1,500 bars, restaurants and hotels have adopted the technology.
ecoSPIRITS serves its customer base from offices in Singapore, Shanghai, London and Miami.
FinSMEs
11/05/2023