BeatBox bests Saucey, moves into #16 position in Wine Tech fundings with $15.87 million

This is part 2 of a 2-part premium double feature. The first article is at: Leading Millennials to wine? Sell the fun and don’t call it wine! But will BeatBox go the way of wine coolers and Annie Greensprings?

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Beatbox makes a wine-based fruit beverage with 11.1% ABV. Its 5-liter box contains the equivalent of 34 mixed drinks. It also offers “MixTape,” a 500-ml. version with the equivalent alcohol content of three mixed drinks.

 

BeatBox Beverages raised eyebrows in 2014 when it appeared on  ABC’s Shark Tank in 2014 and Mark Cuban bought 33% of the company for $1 million. Since then it seems to have raised almost $16 million. “Seems” is appropriate since the company refused to comment on Wine Industry Insight’s investment round chart (below) sent to them on Feb. 5 to check for comments, accuracy and completeness.

 

While wine-based, this is arguably not wine, but a spiked fruit punch. However, because it means business for California wine companies such as Weibel, we have included it in our venture funding series.

 

In addition, because BeatBox is successfully selling to Millennials — as wine is not — the company offers some potential advice for those making traditional wine.

 

Finally, as we have discussed at length in “Leading Millennials to wine? Sell the fun and don’t call it wine! But will BeatBox go the way of wine coolers and Annie Greensprings?” the company’s business model seems to be following that of other passing fad drinks that took root among young “Twenty Somethings” of the past.

 

We discuss those issues in that companion article and see potentials for evading the disasters of the past.

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Previous Wine Industry Insight/Wine Executive News wine tech funding profiles:

• Venture investments in wine – 2019 gets started: Top 48 total approaches $1 Bil – + Vinebox & Wine.com update

• Drizly more than doubles funding with New $34.5 Million Series C — Powers ahead of Coravin & Vivino to #3 position overall —

• VinoVolo landed $17 million before being bought

• Minibar Delivery: #18 in Wine Executive News Wine Tech Funding Series

• Wine Communications Group/Wine Business #17 in Wine Executive News Wine Tech Funding Series

• Kuvée brings in $8.25 million before biting the dust at #16 in WineTech funding

• SevenFifty Ranks #15 in U.S. WineTech Funding (premium subscribers only)

• At $20 million, Vinfolio (after 15 years of financial instability) moves into #12 position in wine tech funding series

• Saucey #2 in on-demand delivery

• WX Brands – Edges out DRINKS.

• $15 million in new funding elevates DRINKS into Wine Tech Funding Top 10

• Plum Wine rounds out top 10 Wine Tech Fundings

• eSkye Solutions moves up to #4 in wine-tech funding. Overall rankings adjusted by new data.

• Vinventions restructures company finances, moves into #1 position in wine investments ahead of Wine.Com

• Winc (Formerly Club W) comes in at #7 In WII’s Winetech funding survey

• Lot 18 funding: $44.5 million good enough for 6th place in winetech venture funding

• At $53 million, Drizly places #4 in winetech funding, but #1 in the total number of investors.

• Vivino surfs to online prominence atop a wave of Euro Cash

• Wine.Com’s $140 million funding foundation takes #1 position in WII’s wine venture funding series

• List of top 50 wine business venture fundings + Coravin #1 in total financing

• Chinese wine venture capital investments blow away United States efforts

• Wine industry missing out on investment due to its lack of financial transpa