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Successfully funded
overfunded
Tuk Tuk Chai
  • Equity
183%
Raised
£275,920
Investors
375
Target
£150,000
Equity
12.98%
Pre-money valuation
£1,850,000

In 2017 Tuk Tuk Chai launched to create a new category in the crowded RTD market by bringing what they believe to be the 1st authentic brewed chai/iced milk tea to the UK. It combines the popularity of milk tea with the innovative offering of speciality flavoured teas that chai brings to the market.

  • Received an investment offer from Peter Jones on Dragon’s Den 2018
  • Listed at all Harvey Nichols & 110 Sainsbury’s stores nationally
  • Voted Most Innovative Product at prestigious Lunch! 2017 trade show
  • Finalist of the 2017 Virgin Foodpreneur competition

Idea

We believe we have created a new category in the Ready-To-Drink (RTD) market in the UK that did not exist before: the concept of RTD brewed iced milk tea.

The idea came after Alex (co-founder) fell in love with chai when she first visited Rupesh's hometown in Kerala. Chai is simply tea but not as you know it. It brews black tea leaves with milk, water & 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.

Additionally, global demand for RTD Tea is growing and is estimated to reach more than $84 billion by 2024. Hence we see a great opportunity to bring innovation into this market with our iced milk tea. This has led us to launch our RTD iced milk tea in the UK. A marketing campaign we ran showed the potential of our product: 90% of those surveyed had never heard of us but 57% said they will repurchase and 53% said they like it equally or more than chai lattes.

Since launching in 2017, we have been listed at Harvey Nichols and 110 Sainsbury’s stores nationally and in independent stores via distributors.

Disclosure: Personal and director loans exist.

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Risk warning

Investments of this nature carry risks to your capital, including illiquidity, lack of dividends and dilution. Balance risk with a diversified portfolio. Read more. Approved as a financial promotion by Crowdcube Capital Limited, which is authorised and regulated by the Financial Conduct Authority.

Investment opportunities are not offers to the public and investors must be eligible Crowdcube members. Further restrictions and Crowdcube's limitation of liability are set out in the Investor Terms and Conditions. Please seek independent advice as required as Crowdcube does not give investment or tax advice.

Tuk Tuk Chai has been given advance assurance by HMRC that the proposed share issue is likely to qualify for Enterprise Investment Scheme (EIS) tax relief.

Tax relief is available to individuals only, with income tax relief currently set at 30 per cent of the cost of the shares for the tax year in which the investment was made. The tax reliefs can also reduce your Capital Gains Tax bill. Read More.

Availability of tax relief depends on your individual and the company’s ongoing circumstances and applicable law.