Newcastle alcoholic tea firm brews up a storm with £1.4m investment to create new jobs
An alcoholic tea company has announced that it has raised more than £1m from investors as it aims to create new jobs and expand overseas.
NOVELTEA, based in Newcastle, is planning to create 20 new jobs following the £1.4m investment, which came from the North East Venture Fund (NEVF), the government’s Future Fund and the crowdfunding site CrowdCube.
The company already trades in the UK, Germany and China, but is aiming to target new markets with its range of alcoholic tea blends.
Lukas Passia, joint managing director, said: “We’re absolutely delighted to secure this investment and can’t wait to start pushing further on with our ambitious plans.
“Our unique drinks are already receiving international acclaim and this funding will allow us to grow and reach many more customers and introduce them to NOVELTEA.”
Thea Tebble of Mercia said: “NOVELTEA is a premium beverage in a range of unique blends.
“Its quality product and ambitious management team is a great foundation for future growth. The business has already achieved impressive traction and Mercia’s support will help it expand into new markets.”
Looking to promote your product/service to SME businesses in your region? Find out how Bdaily can help →
Enjoy the read? Get Bdaily delivered.
Sign up to receive our popular North East morning email for free.