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CORRECTED: Wine app Vivino secures US $10.3 billion funding

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July 17
11:51 AM 2013

(CORRECTION: Changed SEED Capital Partners to SEED Capital)

Wine app Vivino received a follow-on series A funding amounting to US $10.3 billion (Eur 7.9 million). The new funding brings the most downloaded wine app's total investment to US $12.4 million (Eur 9.5 million). A company statement said that the proceeds of this round will be utilized for the development of its product and business as well as for its marketing efforts in Europe and North and South America.

"It's very satisfying to me that we are the first wine app to receive this level of investment and that all of our existing investors are participating again in this latest funding round," Heini Zachariassen, Vivino's founder and CEO said.

"Their enthusiasm for Vivino and our phenomenal growth to date certainly validate our strategy and the acceptance we are receiving around the world," Zachariassen added.

Balderton Capital led this round of funding together with Vivino's previous investors including entrepreneur and Skype founder Janus Friis, Creandum and SEED Capital.

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