Bespoken Spirits, a startup with technology that accelerates the aging of whiskeys, has raised a seed funding of $2.6 million.
A custom spirits maker startup Bespoken Spirits last week announced that its latest investment funding reached $2.6 million. The company, also known for its technology to speed up the aging of whiskey, also introduced a new sustainable maturation process.
On Wednesday, Bespoken Spirits announced a seed funding that amounted to $2.6 million. The company not only sells customized spirits, but it also sells its technology that speeds up the maturation of spirits.
Bespoken Spirits wants to use science to produce better whiskeys. Now it has almost $3 million to prove it that it can https://t.co/w5P2CVvzdb
— CNN Business (@CNNBusiness) October 8, 2020
The funding came from different market leaders, the company claimed. Particularly, investors include TJ Rodgers, owner of Clos de la Tech wine, and Derek Jeter, former professional baseball athlete and co-owner of Miami Martinis.
Rodgers said that Bespoken’s ability “to deliver both quality and variety” compelled him to invest. “In a short period of time, they’ve already produced an incredible range of top-notch spirits from whiskeys to rum, brandy, and tequila.”
Technology for Spirits
Meanwhile, the California-based company also unveiled a new sustainable maturation process for spirits to get enhanced qualities. With Bespoken Spirits’ patent-pending technology, different recipes of spirits can form faster.
Typically, whiskeys mature over long periods while stocked in oak barrels. The time it takes range between five and 30 years, and some even more. But Bespoken Spirits accelerates this process, and what could take years normally, the company can do within days.
Actually, the company said it can tweak specific characteristics of the spirits, including color, aroma, and taste. Bespoken Spirits claimed that they can do the process with precision through modern science, technology, and data.
Aside from custom whiskeys, the company’s technology can also prevent “angel’s share,” a phenomenon that evaporates about ten percent of the spirits.
The Alcohol Industry
The announcement for new funding comes at a time of struggling alcohol industry, CNN Business reports. Sales worldwide for alcohol could decline, according to analysts, amid shutdowns or limited bars.
The company said that it can help save the industry with over $20 billion annually. Meanwhile, Stu Aaron, cofounder, stated that “Bespoken Spirits brings a new era of opportunity to the industry, especially as it has been hit hard by COVID-19.”