Following New Harrods Deal: Alcoholic Tea Brand NovelTea Launches Crowdcube Initiative

NovelTea, a UK-based premiere alcohol tea blend company, has launched a funding round on equity crowdfunding campaign on Crowdcube, seeking £120,000. The launch of its equity crowdfunding round comes just after the company announced it struck a deal with Harrods.

Launched in April 2017 by Vincent Efferoth and Lukas Passia, NovelTea seeks to disrupt the alcohol industry with its alcoholic tea concept. The company was inspired by tea stories from around the world and was named after eccentric tea tales. It currently has two flavors, the Tale of Tangier and the Tale of Earl Grey.

The Tale of Tangier is an infusion of Moroccan green mint tea with Caribbean rum to deliver hints of exotic fruit and floral citrus notes, whilst The Tale of Earl Grey infuses Earl Grey tea with British gin and hand-selected botanicals to deliver a distinctively smooth and rich taste.”

NovelTea explained that both Tales are cold-brewed, vegan, gluten-free, free from any artificial colors, and manufactured in the UK. They can be served ice-cold on hot and sunny days but also warm in a classic tea cup during winter.

Speaking about the Harrods deal, Efferoth reportedly stated:

“Obviously, Harrods is world famous and it means a lot for us at Noveltea to be recognized as a high premium product. We were in London last week and ti was just an amazing experience. We were there doing customer sampling, and it was great to see how well Noveltea is being received.”

In regards to the crowdfunding campaign, Efferoth added:

“We are looking to raise £120,000 and the aim is to extend our to reinforce our marketing activities, in a cost efficient way, and to meet our working capital requirements. We now have bigger accounts and we need to have the financial resources to deliver. We want the financial resources to develop Noveltea as an international brand. We are preparing for exporting opportunities.”

Since its launch, the NovelTea Crowdcube campaign has successfully secured more than £65,000 from over 100 investors. It is set to close at the beginning of September.


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