At 33entrepreneurs, we focus on three verticals: wine, food and tourism. In those fields, we are looking for the most promising teams, the boldest ideas, the most exciting technology. As a consequence, we invest significantly into market analysis and surveys. We have a team of Tech Analysts investigating WineTech, FoodTech and TourismTech StartUps. We also have some secret sauce... We are pleased to share some insights here on the 5,500 StartUps we are monitoring. You will find the following survey based on 550 Wine StartUps worldwide, that we keep up to date on. More is to come on 33insights.

1. Vincent PRETET
vincent@33entrepreneurs.co
Simon BAUDRIER
33entrepreneurs
Bordeaux, France
Contact
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Investing in WineTech
Global insights
©33entrepreneurs 2014
A report undertaken by 33entrepreneurs in 2014Q2
500 StartUps reviewed 10 in-depth analysis

2. 48% 42%
1%
3%
4%
2%
InvestinginWineTechGlobalinsightsAreportby33entrepreneurs-2014Q2
…at an increasing speed…
A TRADITIONAL MARKET TO DISRUPT
Innovation is spurring from various places, even in a traditional
industry such as the wine sector. More than 500 StartUps are
disrupting this market which is worth $250 to 300 billion every year,
and expected to grow by 18% in the 5 coming years. Furthermore,
online sales are expected to grow 30% each year.
How do those 500 StartUps
breakdown into the Wine
Industry Value Chain in 2013?
How do those 500 StartUps
breakdown by foundation year?
B2BEquipment
Innovation in
Universty Labs
B2BSales
B2CSales
B2CApps
B2CProducts
Oenotourism
46%
12%
7% 7%
6%
22%
SELL
SELL
SELL
SELL
SELL
SELL
SELL
SELL
SELL
SELL
SELL
SELL
StartUps
Apps from
Google Play
and AppStore
+ 4000
research
papers
Research papers
from Google
Scholar
More than 500 StartUps
innovating in WineTech…
iPhone Launch base 100
2013
2012
2011
2010
2009
2008
2007
2006
2005
2004
2003
2002
2001
2000
…everywhere on earth
Sources: StarUps data are based on AngelList, F6S, Gust, Crunchbase.

3. raised 70% USA & 30% Europe
+$790 million
raised by 500 wine startups
+$500 million
Many investments
in WineTech…
InvestinginWineTechGlobalinsightsAreportby33entrepreneurs-2014Q2
Vinfolio
Vino Volo
1855
Club W
IBG
Coravin
Lot18
Wine.com
Naked Wines
Vivino
2
30,5
3
3,5
19 20
4,5 4,5
6
9,5
8 714
2 1411
1
1
11
14,5
11
10 8
75
including $200m
before 2000
2006 2010 2014
30
10
1 10 7
B2B Sales
B2C Sales
B2C Apps
B2C Products
SELL
SELL
SELL
SELL
SELLSELL
SELL

4. raised 70% USA & 30% Europe
+$790 million
raised by 500 wine startups
+$500 million
Many investments
in WineTech…
InvestinginWineTechGlobalinsightsAreportby33entrepreneurs-2014Q2
B2B Sales
B2C Sales
B2C Apps
B2C Products
SELL
SELL
SELL
SELL
SELLSELL
SELL
Coravin
2011, Burlington
(USA)
B2C product company
specialising in machines to
pour and enjoy fine wines
without removing the cork.
Now: Coravin
Model: Medical devices
Vino Volo
2004, San-Francisco
(USA)
B2C wine retailer with
tasting lounges and retail
shops in +30 airports
across North America.
Now: Vino Volo
Model: Starbucks
Lot18
2011, New York City
(USA)
B2C online company
operating as a wine
buying club: access to
high-quality, hard-to-
find wine and other fine
products.
Now: Lot18 (+Tasting
Room)
Model: Vente Privée
1855
1995, Paris
(France)
B2C online company
selling fine wine “en
primeur” in return for a
discount price.
Now: Heracles
Wine.com
1998, San Francisco
(USA)
B2C online retailer
offering a large selection
of domestic and
imported wines.
Now: Wine.com
Model: Amazon
Club W
2011, Los Angeles
(USA)
B2C customised,
subscription based
site for wine. Monthly
shipments delivered to
customers’ door.
Now: Club W
Naked Wines
2008, Norwich
(UK)
B2C customer-funded
online wine retailer,
where customers sponsor
independent winemakers
to get a discount.
Now: Naked Wines
Model: Kickstarter for
vineyards
Inertia Beverage
Group
2002, Napa
(USA)
B2B service company
supporting wineries’ direct
sales: wine shipping,
eCommerce, software
solutions, telesales.
Now: Wine Direct
Vivino
2009, Copenhagen
(Denmark)
Mobile App company to
help remember wines and
learn more about them.
Now: Vivino
Model: Shazam
Vinfolio
2003, San Francisco
(USA)
B2C online company
with a marketplace for
fine wines and a cellar
management software.
Now: rebought by VF
Wine
Model: eBay for wine
collectors

5. 33entrepreneurs is the first venture capital company
in the world focusing on wine tech, alongside with
food and tourism.
Having unique capabilities in dealflow acquisition,
we rely on sucessful entrepreneurs (aka Mentors)
and proven methods from TechStars and the Global
Accelerator Network to grow the next generation of
entrepreneurs and great StartUps.
Based in Bordeaux, France, 33entrepreneurs is
founded by entrepreneurs, funded by entrepreneurs,
for entrepreneurs.
Want to know more about this report ?
Contact us for more details.
ACCELERATING STARTUPS
Investing in the most promising teams and tech is extremely challenging. At
33entrepreneurs, we combine unique skills to discover the best teams worldwide and to
grow them, from seed level, as future industry leaders.
InvestinginWineTechGlobalinsightsAreportby33entrepreneurs-2014Q2
… which we can
learn from
Insular industry
Difficulty to enter if you
are not an insider.
Complex law
regulation
Highly regulated
alcoholic beverage
sales and distribution.
Annual business
Dependant on the
harvest and weather
conditions
Talent shortage
Due to non competitive
salaries. Capital
intensive industry.
Logistics
Wine is a heavy,
fragile product
making it difficult to
store and transport.
Digital is a low priority for wineries
Wineries value mostly production.
Rubik’s Cube Locks
best practices
Solving a real
burning need and
creating value
Seizing opportunities
in a traditional market
Building a great team with
complementary skills
Partnering with
wine insiders
UNIQUE
DEALFLOW
ACQUISITION
at 33entrepreneurs
Web Platforms
Applications from
AngelList, F6S
Quantitative VC
Automated Search
from the Web
Investment Analysts
Qualitative Search
on specific targets
StartUp Contests
Face-to-face meetings
in real life
Mentors’
Connections
Qualified targets
Communication
Sponsors, press
& social media
University Labs
To build
in the future