Culver City-based company Steric has successfully closed a $3.5 million Seed funding round, aiming to revolutionize the wine and spirits industry with its innovative technology. The round was led by a private equity group, whose manager, Dieter Gable, has joined Steric’s board. Steric’s technology uses an electromagnetic process to enhance wine and spirits, helping producers address flaws, ensure consistency, and elevate product quality. CEO William Fay emphasized the company’s mission to make better products and margins accessible to producers of all sizes. The funding will support the expansion of Steric’s technology across North America and select international markets, as well as advance research and development efforts. The Steric Process, which recently won the 2023 Innovation of the Year Award from the Distilled Spirits Council of the U.S., is designed to be scalable and adaptable to various production needs.
Has Steric Secured $3.5 Million to Revolutionize the Wine and Spirits Industry?
