Sydney Angels backs wholesale beverage platform, eBev, during $1.5m raise
Angel investment of $220,000 to advance growth in Australia‚Äôs $5 billion wholesale beverage industry
Australia, 13 September 2016:¬ Australian B2B beverage startup,¬ eBev, has announced a raise of $1.5 million as it prepares a national roll out of its technology platform to tackle Australia‚Äôs $5 billion wholesale beverage market.
A total of $220,000 was raised through angel investment in a recent round led by the Sydney Angels group, which included capital from the Sydney Angels Sidecar Fund. Further capital raised through private investors took the total amount raised to $1.5 million.
With a current database of over 20,000 wines ‚Äď the largest in Australia ‚Äď eBev is providing a one-stop, centralised, and mobile platform for Australia‚Äôs 38,000 licensed venues to source, purchase and manage their stock. Currently over 700 venues in Sydney have signed up to the platform with over 16,000 cases ordered and $2.4 million worth of transactions already achieved.¬
Sydney Angels investor and syndicate lead, Adrian Bunter, has joined the Board of eBev and said that the market potential in the wholesale beverage sector is clear.
‚ÄúThe wholesale beverage industry offers huge potential to investors and is currently largely untapped by innovation. It was great to see eBev already on the front foot in tackling the problems long-suffered by venues in the ordering and management of stock.
‚ÄúSydney Angels members were impressed by the clear benefits that eBev brings to both the venues and suppliers within the wholesale beverage industry. The fact that eBev has already signed on hundreds of Sydney‚Äôs licensed venues with solid transactions in motion is testament to its need in the market,‚ÄĚ added Mr Bunter. ¬
Proceeds from the capital raising will allow eBev to expand the product offering and scale nationally. Current establishments already signed up to eBev include Garfish, Bathers Pavilion, The Tilbury, Rag and Famish.¬
eBev General Manager, Cassandra MacDonald, said the funds raised will allow eBev to build out its service offering to include all beverage types, sales rep tools and payments.
‚ÄúOur technology offers efficiencies to make it easier for licensed venues to find beverages and their suppliers, to contact them, order and pay from what is a highly fragmented market place. We‚Äôre thrilled that Sydney Angels has supported us and strengthened our position to grow that community and extend our offering across¬ Australia. Our target is to have national reach across all beverages by the end of FY17.
‚ÄúTraditionally, weekly beverage ordering is a fragmented, slow, inefficient and a frustrating process for venues ‚Äď and almost equally so for the vendors. Often a venue has to reduce its supplier options due to the administrative costs that comes with having lots of providers, with eBev, a venue can now have more choice as well as more efficiency.
“We are fiercely independent and respect the key role of industry participants including distributors and sales reps,‚ÄĚ added Ms MacDonald.¬
About eBev:¬ eBev¬†is an Australian web-based B2B platform that brings efficiencies to how licensed venues deal with their beverage suppliers. eBev has built a search and ordering tool that allows businesses such as restaurants, hotels, bars and independent retailers to order all their beverages from one platform. It can assist venues by cutting their sourcing, inventory management and ordering time, as well as providing analytics on how products are performing in real time.¬
About Sydney Angels:¬ Sydney Angels¬†is an angel group whose members invest in innovative early-stage companies with high growth potential. Sydney Angels provides its members with quality deal flow, a collaborative investment process, and an opportunity to support entrepreneurs and the early-stage ecosystem. Sydney Angels offers entrepreneurs an efficient path to capital, expertise and experience from its members, who are backed by the $10 million Sydney Angels Sidecar Fund.
Sarah Bond¬ firstname.lastname@example.org¬†02 9492 1041 or 0449 543 181