BOXT Raises $9.35 Million To Expand Luxury Brand of Fine Wine Offerings

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AUSTIN, Texas, Oct. 20, 2021 /PRNewswire/ --BOXT, the female-founded, direct-to-consumer winery, announced today that it has raised $9.35 million in equity and debt funding to drive the continued expansion of its luxury brand of fine wine offerings.

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Provider:

PR Newswire

Retrieved on:

Wednesday, October 20, 2021

Information

Tags:

Silicon Valley Bank, CFO, Awareness, Silicon, Multimedia, Entrepreneur in residence, Research, Instagram, WX, Philosophy, Industry, Wine, Carbon, Glass, Restaurant, Beer, Broadcasting

Geotags:

Texas, EUROPE, NAPA

Organisation:

BOXT, NEXT COAST VENTURES, WX BRANDS, SILICON VALLEY BANK

Website:

https://www.drinkboxt.com

Summary

Key Points:

AUSTIN, Texas, Oct. 20, 2021 /PRNewswire/ --BOXT, the female-founded, direct-to-consumer winery, announced today that it has raised $9.35 million in equity and debt funding to drive the continued expansion of its luxury brand of fine wine offerings.
BOXT is a first-of-its-kind wine club, creating a luxury wine experience delivered directly to consumers' doorsteps in a gorgeous and countertop-worthy BOXT.
Grounded in its philosophy of simplifying fine wine, BOXT designs its eight single-batch, handcrafted wines based not just on varietals, like chardonnay or merlot, but on the tastes and textures wine drinkers gravitate to in a fine wine, offering something for everyone.
BOXT is designing a first-of-its-kind, luxury wine experience and delivering it directly to members every month in sleek, environmentally conscious packaging.

BOXT Raises $9.35 Million To Expand Luxury Brand of Fine Wine Offerings

AUSTIN, Texas, Oct. 20, 2021 /PRNewswire/ -- BOXT, the female-founded, direct-to-consumer winery, announced today that it has raised $9.35 million in equity and debt funding to drive the continued expansion of its luxury brand of fine wine offerings.

BOXT Raises $9.35 Million To Expand Luxury Brand of Fine Wine Offerings

The round was led by Next Coast Ventures and joined by privately owned WX Brands, venture debt partner Silicon Valley Bank and multiple private individual investors.

"Sarah was our Entrepreneur in Residence at Next Coast Ventures," said Mike Smerklo, Co-founder and Managing Director of Next Coast Ventures. "When she first brought the idea to me, my immediate reaction was, 'No more new ideas. This is the one.' Since that time it has been amazing to watch the team at BOXT take this vision and turn it into a rapidly growing business that provides an amazing customer experience each and every month".

BOXT is a first-of-its-kind wine club, creating a luxury wine experience delivered directly to consumers' doorsteps in a gorgeous and countertop-worthy BOXT.

BOXT reimagines how to enjoy a single glass of wine at home after a long day, solving the nightly "to-open-or-not-to-open" debate. With its on-tap wines that stay fresh for up to six weeks once opened, BOXT allows consumers to pour exactly as much or as little as they like, whenever they like.

"Sarah's passion to deliver a premium wine, directly and in the most eco-friendly and user-friendly format in the industry, is providing a terrific benefit for both new wine drinkers and long-time wine lovers. WX is incredibly excited to invest in and partner with Sarah and her great team," said Mike Lukan, CFO WX Brands.

Grounded in its philosophy of simplifying fine wine, BOXT designs its eight single-batch, handcrafted wines based not just on varietals, like chardonnay or merlot, but on the tastes and textures wine drinkers gravitate to in a fine wine, offering something for everyone.

"Our goal is to be everyone's go-to glass of house wine," said Sarah Puil, Founder of BOXT. "We're excited to use this investment to expand our marketing to grow membership and brand awareness, fund technology development for reducing our carbon footprint and continue to research the best ways to provide a sustainable, luxury wine experience for our members."

For more information on BOXT, the wines and the subscription service, visit www.drinkboxt.com and follow BOXT on Instagram @drinkboxt.

About BOXT

BOXT is a female-founded and run, venture-backed winery handcrafting wines in Napa with operations based in Austin. BOXT is designing a first-of-its-kind, luxury wine experience and delivering it directly to members every month in sleek, environmentally conscious packaging. Inspired by the simple and delicious house wines of Europe, BOXT is changing the way we all enjoy a glass at home.

BOXT's monthly membership-based subscription service includes shipping, a personal wine concierge and the flexibility to change profile, redirect shipment, pause or cancel at any time. To learn more, visit www.drinkboxt.com.

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SOURCE BOXT