Teabox has raised an undisclosed round of funding with a Teabox customer Cameron Jones, a Singapore based Angel Investor and Tea Connoisseur. Concurrently, Teabox has also raised venture debt from DBS Bank Limited (“DBS”), SouthEast Asia’s largest banking and financial services company. The company will use the capital infusion to expand its presence and fuel growth and innovation in global markets.
Becoming an investor from being a customer, Cameron Jones, said, “I invested in Teabox because I'm a big proponent of what they're doing in the tea space and love the attention to detail they have. Teabox is well positioned to become the global premium tea brand in the world, and I'm excited to back them in growing their business on a global scale." One of the Teabox's early backers, Robert Bass, was also originally a customer who was impressed by the freshness of the tea sold by Teabox.
With the announcement of funding also comes the announcement of strategic hires at Teabox. Nicole Naumoff brings 20 years of marketing and business leadership experience with global brands to Teabox. She will lead Teabox's marketing efforts including the launch of new products and partnerships, with a focus to build the brand in North America. Amit Sharma will lead technology at Teabox. His strong understanding of usability, scalability, performance and optimisation will ensure the Teabox eCommerce platform is ready for growth. With Nicole’s strategic marketing leadership and Amit’s technological vision, Teabox will be poised to take its global tea commerce business to greater heights.
“This capital will give us additional resources to expand quickly and strategically into new markets, innovate rapidly, and deliver on our vision around the world,” said Kaushal Dugar, Founder & CEO, Teabox. "We are thrilled to add leaders of Nicole and Amit’s caliber and depth of experience to our team. Their track record of successfully bringing consumer focused products and services to market will help us to scale to our next level of growth."
For the tea industry, where the estates still run on ledgers designed in the British colonial era, Teabox is right out of the future. The company’s approach marks a clear departure from the norms of the tea industry. By applying innovations in design, supply chain and technology, customer’s across the globe are easily able to enjoy the freshest tea from the best tea gardens because of Teabox.