East Coast Cultures, does business as Kombucha Brooklyn, announced a first close of $120,000 via a fundraising effort initiated last month. 30% of the $400,000 non-brokered debt offering was placed with a single investor. The private placement will remain open for a year while an additional $280,000 is raised by the company. This debt offering is the first time the company taps into the US private placement market.
The company is a probiotic tea brewer that developed and sales three flavors of Kombucha in 16-oz bottles. The beverage is available in bottle throughout the Northeast and Mid-Atlantic region and “On Tap” at fifty locations. Kombucha sales tea culture, over the internet or face-to-face, to the most discerning palate offering premium organic brewing tea, flavoring packets, books, SCOBY (Symbiotic Culture of Bacteria and Yeast) as well as all the hardware necessary to bottle your own.
The company, headquartered in Brooklyn NY, is led by Eric Childs (Chief Executive Officer) and Jessica Childs. East Coast Cultures elected not to disclose its revenues.
Status: First close
Company: East Coast Cultures
Amount offered: $400,000
Amount placed: $120,000