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noveltea-drinks.com

Founded Year

2017

Stage

Seed VC | Alive

Total Raised

$2.67M

Last Raised

$1.88M | 2 yrs ago

About Noveltea

NovelTea sells a range of boozy afternoon teas that are infused with gin or rum.

Noveltea Headquarter Location

Alderman Fenwick's House 98-100 Pilgrim Street

Newcastle upon Tyne, England, NE1 6SQ,

United Kingdom

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Expert Collections containing Noveltea

Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.

Noveltea is included in 2 Expert Collections, including Food & Beverage .

F

Food & Beverage

2,835 items

A

Alcohol Tech

1,129 items

Companies focused on the production, distribution, and consumption of alcohol. This collection includes companies such as craft distilleries, e-commerce platforms, mobile apps, connected appliances, and alcohol substitutes, among others.

Latest Noveltea News

From Brewdog to Trunki - The firms that walked away from Dragons' Den and made millions

Dec 2, 2021

From Brewdog to Trunki - The firms that walked away from Dragons' Den and made millions We find out what happened to some of the firms that walked away from the Dragons' Den to find fortune elsewhere Rob Law with some of his Trunki designs Sign up to FREE email alerts from BusinessLive - Enterprise - good ideas, product development and SME news every WednesdayInvalid EmailSomething went wrong, please try again later. Subscribe We use your sign-up to provide content in ways you've consented to and to improve our understanding of you. This may include adverts from us and 3rd parties based on our understanding. You can unsubscribe at any time. More info Thank you for subscribingWe have more newsletters Show me See our privacy notice Pitching in the Dragons’ Den must be one of the most nerve-wracking ways to pitch for business funding. And for those that leave empty-handed - it doesn't necessarily mean losing out – in fact, despite rejection from the panel of millionaires, several of the businessmen and women previously featured on the BBC TV show refused to give up and have since been hugely successful by finding funding elsewhere. Now, as part of its Innovation Investment Index , personal finance experts at money.co.uk have compiled a list of Dragons’ Den rejects, who went on to find investments elsewhere and create hugely successful brands. Here, we take a close look at the ones that got away and are on the road to making millions. BrewDog (Photo by Jeff J Mitchell/Getty Images) (Image: Getty Images) BrewDog produces various types of ales and lagers, it is also a multinational brewery and pub chain based in Ellon, Scotland. Back in 2009, James Watt and Martin Dickie applied to go on Dragons’ Den and pitch to the Dragons. However, they were later told by the producers that the business wasn’t a good-enough investment proposition for the Dragons, so at the last minute, it was decided that they wouldn’t get to pitch their business to the multimillionaires. BrewDog owners say their pitch would have seen them offer the Dragons 20% of BrewDog for a £100,000 investment. READ MORE: You can read all our stories on Brewdog here The setback forced them to go back to the drawing board in terms of how to finance the business. As a result, they created a model that lets the people who enjoy Brewdog beer own a part of the company. They offered crowdfunding shares totalling £2m, equating to 8% of the capital of the company, to raise money. They now have a community of over 75,000 Equity Punk investors all over the world who are the heart and soul of the business. BrewDog has gone on to be a success which is currently valued at £2bn and which has raised over £250m. Had they been able to pitch (and had any of the Dragons invested) that £100,000 would now be worth a whopping £360m. Read More In 2016 Trunki celebrated its 10th anniversary and has sold more than three million Trunki suitcases, in over 100 countries worldwide, through retailers including John Lewis, Argos, Harrods, Tesco and Next since May 2006. Children’s ride-along suitcases have become a familiar sight at airports all over the world and managed to secure £4m from the government-backed Business Growth Fund in 2013. Tangle Teezer (Image: Tangle Teezer) Tangle Teezer is designed specifically to smooth away knots, tugs and tangles painlessly and quickly, leaving your hair feeling silky smooth. Entrepreneur Shaun Pulfrey appeared on Dragons Den in 2007 with the hope of securing an £80,000 investment in exchange for a 15% stake in his Tangle Teezer business. The hairbrush, however, was ridiculed, with Duncan Bannatyne declaring: “It won’t make any money", and Deborah Meaden saying it looked like a "horse brush". Read More Leaving empty-handed, Mr Pulfrey persevered with his product as he self-financed the Teezer venture by using his savings and remortgaging his Brixton flat. The bold risk paid off as the high-street store giant Boots was the first store to sell the brush and was soon followed by internationally famed salon chains Toni & Guy and Regis. The small business was a hit, with 35,000 brushes sold in the first year. Due to the rapid growth in sales in the UK, Tangle Teezer began exporting the brushes worldwide, with celebrity fans including Victoria Beckham and Cara Delevigne. Cup-A-Wine In 2009, the founder of Wine Innovations and packaging expert James Nash’s idea of plastic cups filled with a single serving of wine and sealed with a foil lid was rejected by the Dragons. James was looking for a £250,000 investment for a 25% stake in his business. The dragons said the idea was “tacky” and required him to rethink his idea to make it a success. Despite being rejected, his invention was later picked up by Marks and Spencer, which used it for its award-winning Le Froglet wine. M&S said the product has been proved popular with train commuters and picnickers alike. If you want more stories like this... You can sign up to our daily e-bulletins of business news or our weekly round-up of the best articles in key sectors. Sign up here HungryHouse Hungryhouse became one of the biggest names in the takeaway food market, despite not getting any backing from the Dragons. While co-founders Shane Lake and Tony Charles secured an offer of £100,000 from James Caan and Duncan Bannatyne during the show, in exchange for 50% of the business, the deal later fell through. The co-founders didn’t let this rejection set them back; raising £150,000 from alternative business angels a few months later enabled them to increase their restaurant partners from 150 in 2007 to over 2,500 in September 2010. Though the company was valued at a whopping £2 billion in 2015, it joined Just Eat in February 2018 following a successful merger and ceased trading in May 2018. RevolutionWorks Mark Palmer, right, and his son Hugo are the founders of Bristol-based RevolutionWorks (Image: JON KENT/BNM, Copyright: Bristol News and Media) Mark Palmer and his son Hugo set up their company, RevolutionWorks, in 2016 and have developed a gizmo - called Revos - that turns a regular push bike into an e-bike in under 10 minutes. Mark walked away from Dragons’ Den empty handed because he refused to move production of his bike gadget from Britain to China. He said he has since been inundated with support. The entrepreneur, who is based at Filwood Business Park in Hengrove, said despite positive comments from all the dragons he failed to get funding because he was told his product was “too expensive” to produce in the UK. RevolutionWorks currently carries out all its manufacturing in Bristol and employs people locally. Mr Palmer asked the dragons for £100,000 for 8% of his company - but could not persuade any of them to part with their cash. He said he was disappointed not to receive investment, as the BBC had invited him to appear on the show, but going to China was “the opposite” of what the company wanted to do. “We like making things and we want to employ people in this country and we don’t think it’s sustainable to drag everything across to China,” he told BusinessLive. Precious Pet Weddings Adrian and Emma Cartlich appeared on Dragon's Den to pitch their new concept - Precious Pets Wedding Wheels - but failed to secure investment. (Image: Samantha Jayne Photography) But they were quickly told ‘I don’t’ by the four-strong panel of investors who said the business was "not scalable or investable." Despite the rejection, Adrian and Emma are continuing to develop the business ahead of what they expect to be their "busiest year to date" in 2022. Emma said: "Even though we didn’t get investment we had some great feedback and brilliant advice from the dragons, and it was an amazing experience. "We feel very proud and honoured to have been given the opportunity to pitch our business and our unique concept in front of millions of people." Over the last 18 months, Adrian and Emma have been building up their wedding pet chaperone services despite the pandemic. The pair also won numerous industry awards and formed new partnerships with more wedding venues across Staffordshire, Cheshire, Shropshire, Derbyshire and North Wales. Emma added: "We believe that 2022 is going to be the busiest year to date for Precious Pets Weddings and the wedding industry. Noveltea Lukas Passia, left, and Vincent Effroth are the founders of alcoholic tea firm Noveltea (Image: Noveltea) Newcastle alcoholic tea firm Noveltea has taken its products global after initially turning down an offer on Dragons' Den. It turned down an offer of £80,000 from three UK Dragons who wanted 30% of the company. Co founders Vincent Effroth and Lukas Passia turned to Crowdcube instead, raising far more than the £150,000 target on two funding rounds A third fundraising round in 2020 far exceeded its £150,000 target with £199,658 raised from 416 investors. The pair also celebrated sealing a deal in 2019 for a €450,000 investment with Dagmar Wöhrl on the German version of TV show Dragons’ Den: Die Höhle der Löwen, which translates as The Cave of Lions. The deal saw Mrs Wöhrl – a leading politician, businesswoman and former Miss Universe runner-up – agree to the six-figure sum in exchange for 15% of the business. The firm’s drinks are popular with customers in the UK, Germany and China and last December the firm secured £1.4m from the North East Venture Fund (NEVF) to allow it to target new overseas markets, expand their product range and create 20 new jobs at the company’s base in Newcastle. Approved Food Dan Cluderay is now a millionaire after setting up an online business selling out-of-date food to busy mums and bargain hunters. The 40-year-old says the secret to his success is that his business, Approved Food, provides just what the savvy shopper is looking for - quality food at prices that save mums around £60 off their weekly bill compared to a similar shop at one of the big supermarkets. In May 2014, Mr Cluderay, together with his business partner Andy Needham, had asked the Dragons' Den panel for a £150,000 cash injection offering a 10% share in Approved Food - but got rejected from the Dragons. Despite the setback, the duo managed to source £400,000 through loans and investments from elsewhere which has seen Approved Food achieve a £4million turnover. Prestige Pets, Road Refresher Bowl Founder of Prestige Pets, Natalie Ellis pitched her Road Refresher non-spill dog bowl in 2008 hoping to secure a £120,000 investment for a 15% stake in her business. After being rejected by the Dragons, Natalie was on a mission and was convinced her non-spill dog bowl would go down a storm in the US. She went to Chicago and was determined to make it a success. She went to Chicago and found an agent and made a 5% deal with him, and got listed on Amazon. She claimed Barack Obama even snapped up one of her bowls. In 2009, Ellis’ Prestige Pet Products pulled in £1m in sales, with 40% of revenues coming from the States. Oppo Ice Cream Launched in October 2014 by brothers and entrepreneurs Charlie and Harry Thuillier, Oppo Ice Cream is a range of superfood, low-calorie and “guilt-free” ice creams that have fewer calories than a large apple. Oppo markets itself as the world’s healthiest luxury ice cream. The brothers pitched their idea to the Dragons and asked for a £60,000 investment for a 7% share of the business. Despite the brothers failing to secure investment, Oppo Ice Cream announced it secured £350,000 in an oversubscribed crowdfunding round on equity crowdfunding platform Seedrs. The company was valued at £3.11m, the deal involved 538 investors (including British tennis star Andy Murray), who backed the campaign in exchange for a share of 5.5% equity – taking the round way over its £150,000 funding target. It was also backed by Richard Branson and the ice cream is now sold in over 1,300 stores including Co-op, Waitrose, Budgens and Holland & Barrett. Aquatina Water Bottle Back in 2010, Guy Jeremiah presented his idea for a collapsible water bottle to the investors on Dragons’ Den. All the Dragons dismissed the idea, with one of the Dragons telling the entrepreneur it was one of those "I'd really want to stick pins in my eyes" moments. Guy marketed his collapsible water bottle as a cheap and environmentally friendly alternative to buying bottled water. The entrepreneur has since sold over 100,000 bottles and signed a distribution deal with Marks & Spencer and is now being sold in 15 other countries. To see more of our Dragons' Den coverage - click here Read More

  • When was Noveltea founded?

    Noveltea was founded in 2017.

  • Where is Noveltea's headquarters?

    Noveltea's headquarters is located at Alderman Fenwick's House, Newcastle upon Tyne.

  • What is Noveltea's latest funding round?

    Noveltea's latest funding round is Seed VC.

  • How much did Noveltea raise?

    Noveltea raised a total of $2.67M.

  • Who are the investors of Noveltea?

    Investors of Noveltea include Crowdcube, North-East Venture, UK Future Fund and Dagmar Wohrl.

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