USA – Cusa Tea, the US based premium, organic instant tea company has secured US42.5 million in Series A financing round led by Break Trail Ventures and S Cap to accelerate growth in the premium segment.
Others participating in this round were existing and new investors, including Organic X Labs, Smart Capital and Service Provider’s Capital.
With the investment, Cusa Tea expects to expand its sales, distribution and marketing capacities while bring new products on the shelves.
The investment brings its total funding to US$3.6 million since it launched its health beverage portfolio which claims to be made using 100% organic tea with zero sugar, preservative, or flavourings.
“Cusa Tea is innovating in a huge, but stagnant category,” said Jim Lamancusa, founder and CEO of Cusa Tea.
“The tea category hasn’t seen anything new for a very long time. With our patented cold-brew, evaporative dehydration process, we can deliver a premium cup of tea in seconds with any temperature of water, anywhere, all without sugar or artificial flavorings.
“We only use organic tea and real fruit and spices.
“Retailers love the fact that we’re bringing something new to the tea aisle and allowing tea drinkers to make premium tea wherever they go, without the need for hot water, steeping a tea bag and then finding somewhere to dispose of the wet, soggy bag.”
According to him, the funding will enable the company the team, support existing retailers grow into new retailers, as well as launch new products.
The company is looking to expand its product range with new heathy and convenient beverages categories, apart from tea.
Launched in 2917, Cusa Tea has over 1,400 retail locations with partners like Sprouts, REI, King Soopers, Safeway, HEB and Cost Plus World Market.
It plans to add over 3,000 new retailers to its robust direct-to-consumer business in the third and fourth quarter of 2019.
“Break Trail Ventures is excited to collaborate with and support Cusa Tea as they continue to scale the brand and redefine what it means to be an instant beverage,” said Jay Hirsch, manager of Break Trail Ventures.
“They have an incredibly strong brand with a great shelf presence that is shaking up the tea space.
“Cusa Tea removes the sacrifices that usually come with any instant product by delivering for customers a better, more consistent and more convenient cup of tea.”