BottlesXO has US$3 million boost from Singapore
Hong Kong-based startup BottlesXO has raised a US$3.4 million pre-series-A round from an undisclosed private equity firm in Singapore, taking its total funding so far to $6.4 million.
It will use the cash injection to expand in Asia, upgrade its technology, develop more products and strengthen customer-outreach strategies, reports E27.
Founded in 2015 by Thilo Fuchs, Mischa Schulze and Zou Zhengfang, BottlesXO provides delivery services for alcoholic beverages such as wine, beer and spirits. There are no delivery charges or minimum order requirements.
BottlesXO says it curates its offering from “trusted producers”, artisans and independent vineyards and breweries. It says it does not handle mass-produced beverages.
Customers can use its app to track their delivery via GPS. It also features a loyalty program, flash sales and promotions, plus food-pairing suggestions.
As well as deliveries, BottlesXO also hosts tasting events at its XO Bar, DJ nights and corporate events, as well as running pop-up events.
Available in Hong Kong, Singapore, Shanghai and Suzhou, the service delivers its chilled beverages within an hour of ordering.
BottlesXO says it aims to close a series-A round next year.
Regional rivals include Alcohol Delivery Singapore, Drink2Connect, Nox Express and WisePass.