Los Angeles-based hospitality and wine and spirits company Winc has secured $10 million in Series B funding, according to company database Crunchbase, topping the city’s recent funding headlines. The cash infusion was announced July 23 and financed by Cool Japan Fund.
According to its Crunchbase profile, "Winc, formerly Club W, is the first customized, subscription-based site for wine. They are an online community of wine enthusiasts committed to taking the hassle, guesswork and pretentiousness out of enjoying a great bottle of wine at a reasonable price. For far too long buying wine has been a one-way street with experts using overblown wine jargon to tell people what to drink."
The eight-year-old company has raised six previous funding rounds, including a $17 million Series B round in 2016.
The round brings total funding raised by Los Angeles companies in food and beverage over the past month to $22 million, an increase of $17 million from the month before. The local food and beverage industry has produced 35 funding rounds over the past year, securing a total of $168 million in venture funding.
In other local funding news, food and beverage company Ready, Set, Food! announced a $2.2 million pre-seed round on July 19, led by Amplify.LA.
According to Crunchbase, "Ready, Set, Food! makes it easy for parents reduce their baby's risk of developing peanut, egg and milk allergies by up to 80% with our gentle, daily system."
The company also raised a $1.4 million pre-seed round in 2018.
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