Fancy a boozy brew? Alcoholic tea brand NOVELTEA hits £214,560 on Crowdcube
The Newcastle-based beverage, which can be served hot or cold, comes in two distinct flavours and has an ABV of 11%
NOVELTEA, an alcoholic tea brand, has smashed its crowding target to raise £214,560 – before launching in 12 John Lewis stores this September.
Initially targeting £120,000 in exchange for 20.35% equity, the Newcastle-based beverage, which can be served hot or cold, has an ABV of 11% and comes in two distinct flavours.
‘The Tale of Tangier’ is an infusion of Moroccan green mint tea and Caribbean rum, whilst ‘The Tale of Earl Grey’ infuses earl grey tea with British gin and hand-selected botanicals.
With a pre-money valuation of £840,000, the beverage business has sold over 1,000 bottles in Fenwick Newcastle since launch in April, and also counts the likes of Harrods and The Whisky Exchange as customers.
Founded by German immigrants Vincent Efferoth and Lukas Passia, the pair, who both hail from Cologne, moved to Newcastle upon Tyne in September 2015 – meeting at Newcastle United’s home stadium St James’ Park.
Recognising the British fascination for craft beers, premium spirits and afternoon tea, as well as the rise in popularity of champagne and prosecco as ‘afternoon drinks’, the duo were inspired to create something that would compliment all of these.
Looking to export in 2018, NOVELTEA is already eyeing potential opportunities in Canada, India, China and Switzerland.
‘The tremendous interest for NOVELTEA shows that people do not only accept our idea of alcoholic tea, but that they were waiting for it!’
“To enhance the taste of tea, we cold-brew The Tale of Earl Grey and The Tale of Tangier for up to 12 hours in order to develop its smooth taste.
“This process draws out all the distinctive flavours without causing some of the bitter notes that can be associated with tea. Cold-brewing also produces lower levels of caffeine by extracting more antioxidants than hot-brewed processes.”
Click here to read why flavoured tea was one of our best business ideas for 2017.