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Coravin secures another $13m in funding

Coravin, owner of the namesake system that allows people to pour a glass of wine without pulling the cork on the bottle, has secured another $13.6m from investors.

New York-based investor Windham Venture Partners has injected most of the latest funding, with Coravin’s existing main shareholder, Paris-based Quadrille Capital, also adding more money.

It means Coravin has to date raised $39m from private investors, underlining their confidence in a system that now sits in many top restaurants and wine shops around the world.

Coravin chief executive Frederic Levy said the new funding would help the firm launch in new countries, as well as be used for research and development.

Wyndham Venture’s chief executive, Adam Fine, described Coravin as a ‘game changing technology for the wine industry not just for aficionados, restaurants, and vineyards, but for consumers of all type’.

Coravin – costing around £269 for a single product – is a needle-through-the-cork system that is designed to help you to siphon wine out of bottles, such as those from old or rare vintages, without spoiling what’s left.

Decanter has been testing Coravin over the past year. Read more about this below:


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