So far sixteen investors participated to Rooibee Red Tea Co‘s $2 million non-brokered financing round. Financial backers bought, a week ago, 48% of the offering or $951,000 worth of equity. The offering will remain open until March 2015 while an additional $1.05 million worth of securities is sold to investors. The equity offering’s expected net proceeds will amount to $1.97 million which excludes $30,000 to be paid toward officers’ salaries. Two previous unregistered financing rounds raised an estimated $1.86 million.
The company manufactures organic bottled tea. The company’s tea is made from naturally caffeine-free rooibos bush from South Africa. The product, which is low in tannins and high in antioxidants, is brewed, bottled and packaged in Louisville. The product is available at Whole Foods, Kroger and Giant Eagle stores. The company also launched a beverage for kids called Rooibee Roo.
The company, headquartered in Louisville KY, is led by Heather Howell (CEO). Revenues on or below $1 million were reported by Rooibee Red Tea Co.
The executive team includes Phoebe A Wood.
The board of directors includes Theodore Halstead Nixon.
The company has raised an estimated total of $2.81 million via private unregistered security offerings.
Status: First close
Company: Rooibee Red Tea Co
Amount offered: $2 million
Amount placed: $951,000
First sale: 03-31-2014
Data as of: 04-07-2014
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
Royal Gypsy Tea Co., also known as Zhena’s tea, successfully raised $500,000 via an equity private placement. Seven investors participated to the non-brokered offering. The company raised an estimated $7.4 million in equity since 2009. Tiesta Tea an up and coming competitor raised close to $1 million this month.
Zhena’s Gypsy Tea is a pro-active purpose brand offering a selection of fair trade and socially responsible organic and biodynamic teas and herbs. The company aims at making a difference in people’s lives by offering only premium teas that benefit consumer’s health, the health of the planet and the livelihood of its suppliers.
The company, located in Commerce CA, was founded by Zhena Muzyka in 2009 and is lead by Sean Ryan (CEO) and Paula Muesse (COO and CFO). The board of directors include Scott Sipprelle and Zhena Muzyka.
Tiesta Tea Co announced the completion of its $937,000 private placement. Twelve investors participated to the offering and were issued equity. This is the first known offering initiated on the US market by the company which disclosed having revenues below $1 million last year. About $75,000 of the gross proceeds will be paid toward executives’ salaries.
The company created a line of loose-leaf tea designed to appeal to a broad audience. Tea can be purchased on the company’s website as well as at specialty stores throughout the midwest.
Tiesta Tea Co, headquartered in Chicago IL, was founded by 2013 by Daniel “Dan” Klein (CEO) and Patrick Tannous (President). The executive team includes Alex Sosnov (COO), Bobby Moynihan (Creative Director) and Sean Litza (National Sales Manager).