Archaeological records show humans have been making alcohol since at least 7000 BC. We figured out wine more than 6,000 years ago. By the time the ancient Egyptians entered the scene, brewers were making at least 17 types of beer.
Nonetheless, it appears we are not done innovating.
Booze-related startups, which typically account for a noticeable but not huge chunk of venture investment, continued to rack up funding in the past year. A Crunchbase analysis of the space found that at least two dozen companies with liquor-related business models raised a round of $1 million or more since the beginning of last year. Altogether, boozy businesses raised more than $280 million in that period.
If we had included every craft brewery and microdistillery to raise capital, funding totals would have been higher. But the list focuses on companies that raised angel, venture and, in some cases, crowdfunded rounds. The majority of booze startups funded under these terms typically had an innovative technology or business model.
Where investors pay for the rounds
Selecting wine is a complex undertaking, creating demand from drinkers and wineries alike for tools to match a wine lover to the most appropriate bottle. Vivino, which operates a popular wine-rating app, demonstrated wine curation could be an attractive market for investors. The company, which claims more than 22 million app users, closed on $25 million last year. In a…