A start-up, with a new augmented reality platform, has put out a call for investors from the wine, food & beverages, and packaging industries to back its funding round.
Winerytale has opened its Public CSF Share Issue Offer, seeking to raise up to $US1.25M to roll out its much-anticipated platform to wine markets in Australia, USA, New Zealand, and South Africa.
The Winerytale app, purpose built for a young adult audience, encourages users to discover the story behind each wine, which is brought to life with stunning augmented reality.
The ground-breaking concept, which also combines multimedia content, virtual interaction, and social media sharing is widely expected to capture the challenging millennials wine market.
Winerytale founding partner, Dave Chaffey, said the response to the App had been positive.
“It’s an exciting concept that consumers have absolutely taken a shining to,” he said.
“The next step for us is to make it accessible to a much larger audience.”
According to Chaffey, the Capital Raise would fund an aggressive rollout to key markets.
“There’s an enormous opportunity that we intend to capture. Raising capital enables us to move rapidly into new markets, to win over audiences before the first lot of competitors arrive on the scene.”
Despite the promising outlook, Chaffey is aware that raising funds during a global pandemic will be a challenge.
“We’ve already been bitten”, he said, “early this year, talks with two potential financiers were well advanced – then in March it all just stopped. It was the start of the pandemic, everyone was panicking. It was a time to lock down. It was just one of those things.”
Chaffey is keen to avoid a repeat, for one reason – it slows down his company’s move to market.
“A rapid roll out delivers a tremendous commercial advantage, and provides a robust foundation for growth,” he said. “This is why we’re calling on investment from within – from people established in, and around the wine industry, food & beverages, and even packaging industries. We make no secret of our ambitions to capture an emerging global market.”