Craft tea retailer The Berry Tea Shop has launched an equity crowdfunding campaign via Birchal as it seeks to scale the business and expand its product portfolio.
The money raised will be used primarily to secure a new warehouse, venture into wholesale, scale marketing efforts, and introduce new products – including developing a ready-to-drink range.
Founded in 2010 by Cliff and Paulina Collier, The Berry Tea Shop offers a selection of more than 48 varieties of loose-leaf tea, tea wares and accessories and includes a cafe.
The company reported a revenue of $1.3 million last year, and online sales growth of 60 per cent yearly from 2019 to 2022.
At the same time, its retail space grew 20 per cent in the same period.
“We see the same potential in tea that was once seen in craft beer and specialty coffee,” said Paulina.
“This equity crowdfunding campaign is a stepping stone to turn tea into the next big craft beverage movement.”