Wine app Vivino has secured $10.3 million in Series A funding, which it plans to use for product and business development and to market the app more widely in Europe and the Americas.

Vivino allows wine lovers to discover, rate and share wines they have tasted. Users can take photos of wine labels, which are then compared to a database of 1.3 million wines to provide information on the wine’s producer, brand, name, varietals and vintage.

The recent addition of optical character recognition to the app has increased the success rate of matching wine labels to 86 per cent, almost double that of a year ago.

The app now processes two million label scans per month, compared to just 80,000 following its launch in April 2012.

The follow-on funding was led by Balderton Capital with participation from previous investors, Skype founder Janus Friis, SEED Capital Partners and Creandum. The company has raised $12.4 million to date.

“Their enthusiasm for Vivino and our phenomenal growth to date certainly validate our strategy and the acceptance we are receiving around the world,” said Heini Zachariassen, Vivino founder and CEO.