Alcoholic tea brand NOVELTEA launches second crowdfunding campaign

NOVELTEA, the Newcastle-based alcoholic tea brand, is crowdfunding for the second time in a bid to raise £150k capital for international growth and R&D.

Capital raised will go towards developing tea and alcohol blends, as well as implementing an export growth strategy for markets in USA, Australia, Japan, France, Switzerland, Austria and Singapore.

NOVELTEA specialise in tea mixology and is the first brand to cold-brew and infuse tea with a matching spirit of either gin, rum or whisky.

NOVELTEA, which counts Harrods, John Lewis and Fenwick on its list of stockists, exports to Germany, Hong Kong and China and has received interest from Michelin star restaurants within 15 months of trading.

In May 2018, NOVELTEA was the only European brand to collect a global innovation award from SIAL China, the world’s third largest food and beverage trade fair. The accolade saw NOVELTEA beat over 600 brand submissions from around the world and will see the alcoholic teas showcased in Brazil, Canada, Philippines, Abu Dhabi and Paris.

Alan Balfour, chairman of Tea Venture Limited said: “In our first Crowdfunding campaign, we overfunded in 5 days and received investment from around 300 individuals. Less than a year later, we are on track to achieve revenue growth of 380% and are ahead of our cash-flow budgets. We are now taking on growth capital and will continue making sure that every penny is invested wisely”.

Tea enthusiasts can choose from two NOVELTEA flavours — The Tale of Earl Grey (Earl Grey tea infused with British gin) or The Tale of Tangier (green tea infused with white rum). Each blend is brewed for up to eight hours during a process that draws bitter tannins away from the teasto enhance flavour.

Only loose-leaf tea and premium alcoholic spirits are used in the mixology of NOVELTEA’s tea tales which are vegan-friendly and contain no extracts, artificial colours or flavourings.

Dr. Alan Rutherford OBE, advisor of Tea Venture Limited, added: “NOVELTEA has such strong appeal because it offers disruptive innovation, bringing tea, the most widely consumed beverage in the entire world after water, to the alcoholic drinks market.

“That it in itself is not enough to guarantee success but it is when it is backed by its founders Vincent Efferoth and Lukas Passia”.

NOVELTEA is on track to achieve 380% revenue increase in ts second trading year, while being ahead of cash-flow forecast, to become profitable during its third trading year.

Want your business, product or service to be seen regionally and nationally? Bdaily helps you get your story in front of the right audience, every day. Find out how Bdaily can help →

Join more than 55,000 subscribers by signing up to our daily bulletin each morning here.