Seed Funding of $5 Million Obtainable for Alcohol Elimination Technology
ALTR, a groundbreaking beverage technology company, has secured $5 million in seed funding, led by the French investment fund Demeter. The funding round also saw participation from notable investors such as Suntory Global Spirits, AZ Venture Capital Inc., Techmind, FTW Ventures, Bluestein Ventures, Solvable, and Xinomavro.
ALTR's proprietary Flavor-First technology is designed to revolutionize the alcoholic beverage industry by removing alcohol while preserving the flavour, structure, and mouthfeel of beverages. This precision ethanol removal method operates at a molecular level, ensuring it is non-destructive and non-intrusive. The technology is specifically engineered for the compounds and structure of alcoholic beverages, making it an ideal choice for the creation of premium low-alcohol drinks that offer a full sensory experience.
Richard Schatzberger, ALTR's Founder and CEO, is leading the company's mission to change the perception of lower-alcohol options for both consumers and beverage makers. He aims to usher in a new era of wine where quality, choice, and well-being are in harmony, addressing the increasing consumer demand for mindful drinking options.
The raised funds will be primarily used to accelerate product development, enhancing and refining the alcohol removal technology to meet the growing demand for low-alcohol options. Additionally, the funds will be used to expand ALTR's partnerships with top wineries globally, strengthening collaborations to produce premium low-alcohol wines that honour traditional winemaking techniques.
By reducing alcohol content, ALTR also aims to minimize environmental impact through more efficient production processes. The company's philosophy is to make great wine, not de-alcoholized wine. This approach ensures that the quality and taste of the final product are not compromised.
The technology developed by ALTR is now in the hands of some of the most famous winemakers and innovative new brands, marking a significant step towards a future where less alcohol doesn't mean compromising on quality or taste. With this funding, ALTR is poised to lead the way in the next era of wine, catering to the surging consumer demand for mindful drinking options.
Science and technology are at the heart of ALTR's venture capital-backed mission to transform the food-and-drink industry, specifically the alcoholic beverage sector. By developing a groundbreaking Flavor-First technology that removes alcohol while preserving taste, ALTR is creating a lifestyle-friendly,science-based solution for consumers seeking mindful drinking options, supported by investors such as Demeter, Suntory Global Spirits, AZ Venture Capital Inc., Techmind, FTW Ventures, Bluestein Ventures, Solvable, and Xinomavro.
