Investments

One more drink, please: Uvinum closes €900,000 round led by Cabiedes

uvinum investment
Written by Jaime Novoa

Uvinum has closed a €900,000 investment round led by Cabiedes & Partners. Javier Martín, Dovito Inversiones and business angels associated to IESE also participated in the round.

uvinum

Albert Lopez, Albert Garcia and Nico Bour co-founded Uvinum in 2009 with the idea of becoming the biggest online store for wine, beer and other alcoholic beverages. With more than 1 million visits per month and projections to reach €7 million in sales in 2014, the startup continues to push forward in its quest to sell wine at a global scale.

In order to accelerate growth and achieve that, Uvinum has closed a €900,000 investment round from Cabiedes & Partners, Dovito Inversiones and Javier Martín. Other business angels associated to Barcelona-based school IESE also participated in the deal. To date Uvinum has raised €2 million from investors.

As highlighted by Hemerotek, the startup has close to 40,000 clients in 14 countries, with Spain, UK and France as its main markets. These numbers will probably only increase in coming years as Uvinum continues to expand and increase its footprint.

Gross sales are about to double compared to 2013 (+100%) and with more markets in the horizon, the future for Uvinum looks promising.

Uvinum’s competitors include companies such as Vin Malin (France), Vinexus (Germany), Majestic Wine (UK) or Bodeboca (Spain).

About the author

Jaime Novoa

Jaime Novoa is the Founder of Novobrief.

He is a technology writer turned investor at Madrid's K Fund. He was also a data analyst at Tech.eu.