Investors recently provided a $2.5 million boost to expand distribution and development of Boulder, Colo.-based Cusa Tea.
The Series A round, led by Break Trail Ventures and S Cap, brings total financing to $3.6 million. Cusa organic tea uses real fruit and spices to cold-steep tea before it is transformed into powder that is packaged as 10 single sticks. Packs sell for $9.99.
Flavors include traditional teas such as organic oolong and organic green tea as well as blends that include English breakfast, mango green, lemon black, chai and peach.
“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 flavourings. We only use organic tea and real fruit and spices.”
In a release he said, “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.”
Cusa is sold at 1,400 locations including Sprouts, REI, King Soopers, Safeway, HEB and Cost Plus World Market.
“Cusa Tea is a breakthrough in the tea category and offers the potential for disruption across the broader healthy beverage market,” writes S CAP founder Jim Cali. “We have found it to be a superior cup of hot tea, winning medals at the Global Tea Championship versus the best loose leaf and bag competitors in the world. It also mixes quickly in cold water, transforming a bottle of water into a superior iced tea drink.”
“Given its taste, versatility and clean label, there is nothing like it on the market. We see huge potential for Cusa as a platform extending its reach in the broader functional and refreshment beverage space. S CAP is thrilled to part of the Cusa Tea team,” writes Cali.
Lamancusa said the funding “comes at a perfect time. Adding this many new retailers and new products in such a short period of time is very expensive.”
He said the company will used the funds to “expand our team, support our existing retailers, grow into new retailers, as well as launch some exciting new products. Our technology can be used for all beverages, not just tea, so we look forward to bringing other healthy and convenient beverages to the market very soon.”
Cusa launched in 2017. New investors in the latest round include Organic X Labs, Smart Capital and Service Provider’s Capital. Jay Hirsch of Break Trail Ventures and James Cali of S Cap will join Cusa’s board of directors.
Source: Cusa Tea