Millennia TEA Exceeds $500,000 Target In First Seed Funding Round

ARTICLE DATE APRIL 19, 2020

SAINT JOHN — Millennia TEA, a company that uses flash-freezing technology to offer antioxidant-rich tea, has closed its first-ever funding round.

The round was led by Natural Products Canad (NPC), a group of private investors, and SOSV, an international venture capital firm that is also home to Food-X, considered the world’s leading food and beverage accelerator that Millennia TEA took part in last year. The exact amount of the round is not being disclosed, but the company confirmed they did exceed their $500,000 target.

“Today’s health-conscious consumer has embraced ‘food as medicine’ and is looking for ways to optimize the nutritional value of their everyday pleasures like a simple cup of tea,” says Shelley King, CEO of Natural Products Canada, and a key investor and strategic advisor to Millennia TEA, in a release.

Founded in 2017 in Saint John, Millennia TEA offers delicate-tasting tea packed with powerful health benefits thanks to its first-in-category flash-freezing technology that preserves 5x the antioxidants found in dry leaf teas – nutritional properties lost through the traditional drying processes around tea.

Funding from the seed round will help the company support its innovation and growth potential in the $3-billion North American specialty tea market. Since 2017, it’s grown its customer base and scaled production and international sourcing to accommodate its growth throughout the frozen section of specialty grocery stores and health food stores across Canada.

They plan to use the funds to expand their market presence in Canada and to begin exporting to interested customers in the United States and Europe.

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Posted on August 05, 2021