Home > In the Press > Overfunding: Ready-to-Drink Beverage Brand Tuk Tuk Chai Surpasses £150,000
Tuk Tuk Chai, a UK-based ready to drink beverage startup, quickly surpassed its initial £150,000 funding target within 24 hours through its equity crowdfunding campaign on Crowdcube.
Founded in 2015, Tuk Tuk states that its beverages described as an infusion of black tea, whole spices and milk with just a hint of sugar. The company states the drinks are a “real spicy hug in a mug” for those who have a “thirst for adventure.”
Tuk Tuk stated believes it has created a new category of drinks in the UK’s ready to drink (RTD) market that did not exist before. The drink idea came from co-founder Alex Thomas, who fell in love with chai when she first visited the hometown of co-founder Rupesh Thomas.
“Chai is simply tea but not as you know it. It brews black tea leaves with milk, water and optional spices and can be drunk hot or cold. Over the years, we grew frustrated by the poor quality of chai available in the UK and also identified a gap in the market as our research suggested there was no RTD option for iced milk tea in a nation of tea drinkers. Indeed tea is the most consumed beverage in the UK, with 60.2 billion cups drunk yearly, out of which 98% is taken with milk.”
Since its main launch in 2017, Tuk Tuk Chai has been listed at Harvey Nichols and 110 Sainsbury’s stores nationwide and in independent stores through distributors. Funds from the Crowdcube round will be used to continue growth and expansion within Tuk Tuk. The funding round is set to close mid-September.
Source: https://www.crowdfundinsider.com/2018/08/137888-overfunding-ready-to-drink-beverage-brand-tuk-tuk-chai-surpasses-150000-funding-target-in-24-hours-on-crowdcube/
