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Dissolvable tea startup Tea Drops has raised a $5 million Series A round led by consumer brand-focused venture capital firm BrandProject, according to a press release emailed to Food Dive. Other investors include Siddhi Capital, AF Ventures, Cue Ball Capital and Halogen Ventures. The round brings Tea Drops’ total funding to $8.4 million.
Tea Drops will use the new investment to make hires around ecommerce and operations. The company is on track to manufacture 10 million Tea Drops this year and has been named one of the fastest direct-to-consumer (DTC) brands on Shopify after posting 350% year-over-year growth.
Describing its product as organic “bath bombs for tea,” Tea Drops has a focus on ethical sourcing, transparent ingredients and sustainability, with a format that aims to cut down on packaging waste. These qualities, along with its female leadership, have attracted investors’ interest.