Overfunding: NovelTea Secures £120,000 Crowdcube Funding Target in A Little Over 24 Hours

Less than 48 hours after launching its equity crowdfunding campaign on Crowdcube, UK-based premier alcohol tea blend company NovelTea has successfully secured its initial £120,000 and is now nearing £185,000 thanks to more than 200 investors.

As previously reportedNovelTea was launched in April 2017 by co-founders Vincent Efferoth and Lukas Passia. The company seeks to disrupt the alcohol industry with its alcoholic tea concept and it was inspired by tea stories from around the world. It was also named after eccentric tea tales. NovelTea currently has two flavors, The Tale of Tangier and The Tale of Earl Grey. The description of the flavors read:

“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.”

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. The launch of the funding round comes just after NovelTea struck a deal with Harrods. Efferoth reportedly shared:

“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.”

The campaign is set to close mid-September.

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