BottlesXO Raises US$3.4 Million In A Pre-Series A Funding Round
Mobile-based on-demand beverage delivery service BottlesXO has raised US$3.4 million in a Pre-Series A funding round, from an undisclosed private equity firm in Singapore.
This funding round brings the Hong Kong based company’s total funds raised to US$6.4 million, including earlier seed rounds led by its founding team and angel investors.
Co-founders Thilo Fuchs, Mischa Schulze and Zou Zhengfang created BottlesXO in 2015 with the mission to provide a “chilled-delivered-now” solution for all wine, beer and spirits related needs & emergencies.
Their bottles are personally selected from trusted producers, artisan & never mass-produced and are carefully curated from independent vineyards and breweries passionate in their craft, mindful of their environment and have a great story to tell. Customers can order via BottlesXO’s cutting-edge APP with GPS tracking, access BottlesXO community loyalty program, find exclusive flash sales & promotions and even food-pairing suggestions for their bottles.
BottlesXO operates in Shanghai, Suzhou, Hong Kong and Singapore delivering high quality wine, craft beer and spirits chilled within 60 minutes (with an average delivery time less than 30 minutes) with no minimum order or delivery fee.
BottlesXO integrates its shopping experience through all online devices and offline (O2O) by providing its community tastings at traditional brick-and-mortar XO Bars, BXO/XO Block Party Series and Pop-Up events.
XO Bar by BottlesXO was their flagship tasting store launched in June 2016. The popular wine bar hosts weekly community tastings, corporate events and themed DJ nights, bringing an exciting real life experience to all customers. Located along Hengshan Road in French Concession, Shanghai, XO Bar has since won several prestigious awards: Wine Bar of the Year in consecutive years 2016 and 2017 (That’s Shanghai Food & Drinks Awards) and Outstanding Wine Bar 2017 (City Weekend – Readers’ Choice Awards).
BottlesXO also won Lifestyle Service of The Year in 2016 (TimeOut Shanghai – Readers’s Choice Award) and Outstanding Online Grocer in 2017 (City Weekend – Readers’ Choice Awards).
Mischa Schulze, Joint-CEO of BottlesXO International Ltd. said, “The strong investor interest from this fund raising validates our product and growth vision. With a huge market demand for consumption of alcohol and beverages in Asia’s high density areas and cities, BottlesXO is seizing the opportunity to offer great and fair value to our customers, disrupting the value chain of the traditional wine, beer and spirits industry by offering an on-demand, ready-to-drink and mobile first solution and by connecting consumers with quality producers.”
Mischa added, “The funds raised will be spent on next-level technology, growth into new Asian markets, development of new product lines, strengthening our strategic position in the O2O market and acquisition of customers.”
The company is aiming for Series A in 2018.