Noveltea was founded in 2016 by Vincent Efferoth and Lukas Passia, who were studying at university in Newcastle at the time. The brand is said to be the first to cold brew and infuse tea with a spirit.
Noveltea raised the £1.4m investment from the North East Venture Fund (NEVF), the UK government’s Future Fund and crowdfunding platform Crowd Cube.
Thea Tebble, investment associate at Mercia Asset Management, which manages the NEVF, said: “Noveltea is a premium beverage in a range of unique blends. Its quality product and ambitious management team is a great foundation for future growth. The business has already achieved impressive traction and Mercia’s support will help it expand into new markets.” The funding will enable the company to target new markets, expand its product range and create 20 new jobs at the firm’s Newcastle base.