ecoSPIRITS is in good spirits! They’ve just raised a $10M Series A. This Singaporean circular economy startup makes distributing wine and premium spirits low-carbon and low-waste — all through tech.

• They operate in 15 countries across APAC, Europe and the Americas.
• Their customers include over 1,500 bars, restaurants and hotels like The Four Seasons. Partners also include major spirits players Diageo and Pernod Ricard.

Investor check. Closed Loop Partners led the round. Proterra Asia, Pavilion Capital, Convivialité Ventures and existing investor Wavemaker Partners also joined in!

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🍻 We shouldn’t toast to this

We all love a good drink. But FYI, taking alcohol to F&B establishments like bars and hotels creates lots of waste like tons of single-use glass bottles and cardboard!

• Single-use glass packaging produces the highest greenhouse gas across all beverage packaging materials.

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🌏 All about impact

Founded in 2018, their patent-pending closed-loop distribution system nearly eliminates all the packaging waste in the supply chain! This is powered by ecoSPIRITS’ software platform, hardware and IoT solutions.

• Good for the planet and good for biz. Apart from being low-carbon and low-waste, their solution helps businesses save on costs too!
• It reduces emissions associated with spirits by around 60-90%.

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🍾 The process

Step 1. Spirits and wine get shipped to local markets in large containers then get processed at ecoSPIRITS’ semi-automated processing facilities, called ecoPLANTs.

Step 2. The drinks are placed into their ecoTOTEs, which are 4.5 liter refillable containers that get sent to bars and restaurants.

Step 3. At the F&B venue, they use ecoSPIRITS’ SmartPour machines to pour alcohol from these ecoTOTEs.

Step 4. Once the ecoTOTEs are empty, they are sent back to the ecoPLANT facility for a refill!

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💰 What's with the $$$?

They’ll be leveling up their hardware, software and IoT R&D program to keep pushing their roadmap. Plus, they’ll be hiring, investing in key markets like the US and hoping to hit 25 countries early this year.