BarrelWise Announces $3.1M Seed Investment, Led by Conexus Venture Capital

0
Advertising

Vancouver-based BarrelWise Technologies Ltd. closed a round of seed funding. This round was led by Conexus Venture Capital through its Emmertech fund, with additional investment by Ag Capital Canada.

August 24 – The wine industry is at a crossroads, where thousands of years of tradition merge with cutting-edge technology. This union of art and science creates fertile ground for innovation in oenological solutions. Founded in 2018, BarrelWise designs integrated measurement and data systems that improve efficiency and control in winemaking.

The company’s flagship product, the BarrelWise FS1, is a fast, free, cloud-connected SO2 analyzer for winemaking. It allows wineries to perform routine free SO2 measurements up to 15 times faster than traditional lab analysis, right in the cellar.

The speed and simplicity of the FS1 allows wineries to collect high-resolution datasets from their barrels and vats, helping to prevent costly incidences of wine quality loss while providing winemakers with in-depth process insights. of production.

“We are excited to work with some of the largest and most innovative wine groups in the world to refine our FS1 product,” said Jason Sparrow, CEO of BarrelWise. “With this investment from our partners Emmertech and Ag Capital Canada, we look forward to making high-precision quality control the global standard for wine production.”

“As investors in the agricultural space, we see many precision agricultural tools being applied in the agriculture industry,” commented Scott Crawford of Ag Capital Canada. “What we love about BarrelWise is that they’ve developed a tool that allows these kinds of concepts to be applied to the winemaking process. Given the large variations in SO2 from barrel to barrel that can occur in a winemaker’s cellar, we believe the industry will greatly benefit from the solution developed by BarrelWise.

“With our Emmertech fund, we love finding opportunities in the world of agriculture where innovators bring speed and simplicity to solving problems throughout the supply chain,” said Sean O’Connor, Managing Director of Conexus Venture Capital & Emmertech. “BarrelWise puts the traditionally slow and expensive laboratory process of identifying SO2 levels right in the cellar. Combine this innovative solution with a top-tier founding team, led by Jason Sparrow, and we believe we have a real gem of a company added to our portfolio.

About BarrelWise

BarrelWise Technologies Ltd. (BarrelWise) develops pragmatic technical solutions to enable winemakers around the world to produce better wine. The company optimizes cellar management processes for wineries with its new detection technology, which is faster, more accurate and easier to use than traditional laboratory equipment. It brings unprecedented, data-driven wine quality insights right to the cellars of wineries. For more information on BarrelWise, please visit www.barrelwise.ca

About Conexus Venture Capital’s Emmertech Fund

Emmertech is an agtech fund built from the industry out, with an investor base that includes some of Canada’s most innovative farmers, agribusiness owners, industry-focused insurers and financial institutions. agriculture, and Canada’s largest agricultural province through Innovation Saskatchewan. Emmertech is managed by Conexus Venture Capital, built with the vision that Canada can become a global leader in agricultural innovation if our founders have proper access to seed venture capital. Visit www.emmertech.ca

About Ag Capital Canada

Ag Capital Canada (ACC) is a private equity fund that invests in Canadian agriculture and food innovation and small business growth. ACC aims to discover, develop and support Canadian agricultural businesses through capital investment, business management mentorship and entrepreneurial expertise. For more information on the ACC, visit www.agcapitalcanada.ca.

Advertising
Share.

Comments are closed.