UK-headquartered Prosecco brand Della Vite has completed a GBP3m funding round led by La Hechicera rum founders Miguel and Laura Riascos.
The money raised will act as working capital and be used to accelerate the brand’s growth in the UK, US and European markets.
A spokesperson for Della Vite told Just Drinks that it was not planning further funding rounds as “this should now see us to profitability”.
Following the latest investment round, Miguel and Laura Riascos – who sold the La Hechicera brand to Pernod Ricard in 2021 – will join the Della Vite’s board of management. Both have received an undisclosed number of shares in Della Vite.
Co-founder and CEO of Della Vite, Numa Heathcote, said: “This is the best possible development at a pivotal moment on our journey.
“We have strengthened our balance sheet, we’re incredibly excited to add Miguel and Laura’s expertise to our team’s, and this puts us in the strongest possible position to accelerate our growth in all markets.”
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Della Vite was launched in 2020 as a joint venture between Delevingne sisters Chole, Poppy and Cara, alongside two members of a third-generation Italian winemaking family, Carlo and Adriana Biasiotto. The Biasiotto family operates the Foss Marai winery in the Italian Valdobbiadene region where Della Vite is produced.
The company currently makes two Prosecco variants; Della Vite Superiore DOCG and its newest rosé Prosecco variant Rosé DOC Millesimato.
Commenting on the investment, the Delevingne sisters said: “Launching a business as sisters has been a life’s ambition. We’ve loved the journey so far, and we can’t wait to welcome Laura and Miguel to the family and take Della Vite to the next level.”
Last August, the EU trademark office signed a trade deal with New Zealand that will prevent producers in the country from using the term or label Prosecco on their products.
Following a five-year phasing out, New Zealand producers will be forced to call products previously referred to as Prosecco sparkling wines.
That deal followed China’s agreement to officially recognise the Italian sparkling wine’s trademark.