Tech start-up Winerytale is seeking to raise up to US$1.25 million to roll out its augmented reality platform to wine markets such as Australia and New Zealand, as it aims to attract millennials and encourage users to discover the story behind each wine.
Winerytale has called on investors from the wine, food and beverage, and packaging industries to back its funding round, looking to expand into USA and South Africa as well as the ANZ region.
The app combines multimedia content, virtual interaction and social media to build brand awareness for wine labels, particularly targeting a young adult audience to engage with the wineries and their backstory.
Winerytale founding partner Dave Chaffey said consumers have already taken a shining to the app, with the next step for the business to make it accessible to a larger audience.
“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,” said Chaffey.
“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.”
“A rapid roll out delivers a tremendous commercial advantage, and provides a robust foundation for growth. This is why we’re calling on investment from within – from people established in, and around the wine industry, food and beverages, and even packaging industries.”
The Winerytale Share Issue Offer will close on 2 July.