Winery Exchange gets $5M more for private-label alcohol
Winery Exchange, a Novato, Calif. maker of private-label wine and beer for retailers, has raised $5 million in a second round of financing.
Hedge fund D.E. Shaw Group made the investment in the company, which has now raised a significant $31 million since 2000. It’s the latest wine-focused company that soaked up a lot of money before getting to profitability. Wine.com, for one, soaked through hundreds of millions of dollars from VCs before almost going out of business.
Previous investors in Winery Exchange include 3i Group, Venrock, Camden Partners and Draper Richards.
The company serves outlets like 7-Eleven and Costco.
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