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05/08/2007

ProVina Incorporated Closes $4 Million Investment

 

ProVina Incorporated, maker of the award winning WinePod, announced recently that it has completed its first institutional investment led by VantagePoint Venture Partners. The WinePod, a web based device and ProVina's first product, is the world's first personal winery. This high tech all-in-one winemaking system is self-contained in a sleek home size unit and targeted for wine consumers.

”ProVina is pioneering a new technology that has captured the attention and interests of wine enthusiasts worldwide. We believe that there is a substantial global market for a system that will enable consumers to not only enjoy wine, but to enjoy being part of its production process to match their own tastes,” said Cynthia Ringo, Managing Director, VantagePoint Venture Partners and new member of the Board of Directors.

Introduced in 2006 and with patents pending, the WinePod has been recognized with numerous innovation awards. Most recently it was named one of the "Next Big Things" in February 2007 by USA Weekend. In April 2007, the WinePod won Business 2.0 and Frog Designs 2007 "Bottom Line Design Award" for design innovation and strong financial prospects.

”We are very pleased to be partnered with VantagePoint Venture Partners. As one of the leading venture firms, their track record of success is well known. VantagePoint's significant experience in consumer electronics will be a great asset as we grow the company,” said Greg Snell, co-founder and CEO of ProVina.

Backed by an experienced board of directors, including legendary Silicon Valley CEO and winemaker TJ Rodgers of Cypress Semiconductor, ProVina has assembled an experienced team of Silicon Valley technologists and Wine Country winemakers.

ProVina will use the funds from this round to ramp production to meet the significant demand and launch the product globally.

Headquartered in San Jose, CA, ProVina was founded in 2005 by Greg Snell and Dr. Vlad Firer to revolutionize the wine industry. ProVina's personal winemaking products include the WinePod, interactive winemaking software and premium quality grapes shipped from the best wine regions in California. The WinePod has three patents pending.

For more information, visit:  www.winepod.net