Well-known app provider Vivino has raised US$155 million in a new round of funding led by Swedish investment firm Kinnevik and new investor Sprints Capital. Investors are GP Bullhound and existing investor Creandum, according to a press release. This funding brings the total amount raised by Vivino to $221 million in primary and secondary investments.
According to its own information, about 50 million wine lovers worldwide use the Vivino platform with more than 700 wine traders on the digital marketplace. The fresh capital is to make it possible for Vivino to improve the platform's technology with artificial intelligence in order to be able to produce more precise and more personal recommendations for Vivino users. The company also plans to focus on selected markets with the greatest growth potential, including the US, Germany, the UK, Italy, Japan and Portugal.
(uka)