Venture capitalists are pouring funds into alcohol startups, burp
Liquor startups are the next frontier for Venture Capitalists (VCs) with $100 million raised for apps like home liquor delivery, robotic bartenders, and breathalyzer accessories for your smartphone.
While the investment is currently small compared to the $800 million raised by food startups in 2015, $100 million isn’t something to scoff at. Customers increasingly expect easy on-demand ordering, yet less than 10% of liquor retailers are online.
Anu Duggal, founder of the Female Founders Fund and investor in Minibar says local vendors that work with on-demand services have seen up to 50% more sales. Soon the way we buy liquor may change the way food delivery did at the hands of apps like Seamless or Grubhub.