Tea Drops secures $5m in Series A funding round

Tea Drops, a producer of bagless, dissolvable tea blends, has closed a $5 million Series A funding round led by investment group BrandProject.

Launched in 2015, Tea Drops offers ‘playfully shaped’ blends of tea leaves and spices that dissolve in your cup, which it sells direct to consumer.

Alongside BrandProject, Tea Drops’ Series A round also received participation from new investor Siddhi Capital and previous investors AF Ventures, Cue Ball Capital and Halogen Ventures.

The round brings Tea Drops’ funding total to $8.4 million and will enable the brand to pursue further innovation with the aim of modernising tea culture.

“We are thrilled to continue pushing the boundaries of tea innovation and further our mission as a self-care-first experiential brand,” said Tea Drops founder and CEO, Sashee Chandran.

“With this new round of capital, we’re bringing on an incredible first-class team of ecommerce and operational strategists in both BrandProject and Siddhi Capital. We are so grateful for the new partnerships and the continued support from our existing partners. Together, we are modernising a sleepy category and making tea accessible and fun for all.”

BrandProject founder, Andrew Black, added: “As consumer investors, we’re attracted to highly innovative businesses operating in large addressable markets. Tea is the world’s most consumed beverage, next to water, and yet the overall category has lacked innovation in both experience as well as packaging.

“It’s taken the creativity and tenacity of a founder like Sashee to address this opportunity by bringing convenience, accessibility, sustainability and fun to high-quality tea.”