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According to foreign media BusinessWire, Bartesian, a US company that produces smart cocktail machines, recently received US$20 million in Series A financing. This round of financing was led by Cleveland Avenue and LLC, followed by Stanley Ventures and early investors HAX and SOSV.
Bartesian was founded in 2014 by Bryan Fedorak and Ryan Close and is headquartered in Chicago. The company’s flagship product is a smart cocktail machine that uses special capsules and user-prepared base wines to make dozens of different cocktails.The user only needs to pour the base wine into the machine, add Bartesian’s wine capsules, follow the instructions on the machine’s touch screen, and wait for the cocktail to be completed.
Bartesian’s cocktail library continues to expand, from 7 at the beginning to more than 30 today. It uses recyclable flavor capsules, contains fruit juice, natural extracts, bittering agents, does not contain artificial colors and flavors, and has a precise ratio and does not take up space. Bartesian also launched a monthly capsule membership package. Subscribers can receive a certain number of capsule combinations at a discounted price every month.
In addition to the direct-to-consumer vertical market, Bartesian also accepts corporate customization, such as airlines, stadium operators, and hotel chains. The commercial version of the smart cocktail machine is larger and is equipped with a tamper-proof locking mechanism.
Image source | Bartesian official website
Since the 2020 epidemic, the number of people making cocktails at home has increased sharply. According to Nielsen’s data, during the COVID-19 pandemic, alcohol sales outside of bars and restaurants increased by about 24%. At the same time, the sales of hard liquor increased by more than 27%.It is estimated that the global market for ready-to-drink cocktails has exceeded $1.6 billion.
Bartesian seized the trend of increasing convenience and quality requirements in the cocktail market, seized the opportunity to become a leader in the smart home cocktail industry. According to the financing announcement, Bartesian currently produces millions of devices per month, and its system has provided more than 5 million cocktails. Revenue in 2020 increased by 975% year-on-year. Compared with March 2020, its user base has grown. 30 times.
however,Is Bartesian’s rise to popularity only with the help of the epidemic? Is there a continuous demand? Can the home cocktail machine change consumer behavior and counter the bar’s social function?It is worth thinking about. With the popularity of vaccination and the reopening of bars and restaurants, do consumers still need such a smart home cocktail machine?
Bartesian’s founder and CEO Ryan Close said that although the company did enjoy the dividends of the epidemic, Bartesian had tripled its growth rate before the outbreak. According to Close, the company’s sales in the first quarter of 2021 have exceeded sales in the first half of 2020.
Currently, the official website price of a Bartesian machine is about US$350, and the price of a set of 6-pack cocktail capsules ranges from US$15 to US$20.Whether it’s compared to buying wine in a bar, or benchmarking with Nespresso coffee machines, Bartesian’s pricing is obviously not competitive.
The founder of Bartesian said that he will use the funds to expand the international market, especially the European market, and expand the production scale and marketing team. How to highlight the strong encirclement in the rebound of the bar business, find the correct positioning, and give full play to the brand’s own advantages is the next problem that Bartesian will face.
Editor | Chen Shuya