Cooper Tea raising capital for new iced tea range
Cooper Tea, a Louisville-based iced tea manufacturer, is reportedly raising investment funds towards a range of ready-to-drink teas and lemonades. These would be sold under the Third Street brand, a company that Cooper Tea merged with back in 2011. The project consists of 9 varieties of teas and lemonades that were requested by Whole Foods because of their organic and Fair Trade ingredients. According to a regulatory filing with the SEC, so far the firm has raised at least $300,000 of a planned $1.5 million equity capital round. The company founder says this was a "friends and family" round from existing shareholders and new investors.