MOUNTAIN VIEW, CA--(Marketwired - Nov 1, 2016) - Today, Teforia, creator of the Teforia intelligent tea infuser, announced it has raised $12M in new funding. The Series A round was led by Translink Capital with participation from returning investor Upfront Ventures and Lemnos Labs along with new investment from Mousse Partners and Correlation Ventures, bringing total funding to date to over $17M. In addition to its financing, the company also announced that it has begun shipping Teforia units to its pre-order customers in anticipation of its nation-wide launch later this fall.
"Seeing our customers' eyes light up when they take their first sip of the perfect cup of tea makes everything worthwhile," said Allen Han, CEO, Teforia. "It has been a long, but extremely rewarding journey so far, and there's so much more we're discovering each day about tea and the capabilities of Teforia technology to deliver unique experiences. We can't wait to share them with our customers and rest of the world in the near future."
Crafted by a former XBOX designer and informed by the wisdom of some of the world's foremost tea masters, the Teforia infuser delivers state-of-the-art technology and a luxurious experience on par with a traditional tea ceremony right to your home. Its sleek design features RFID, Bluetooth and Wi-Fi connectivity incorporated into the machine. To craft the perfect cup, Teforia offers 100% recyclable pre-packaged and perfectly dosed Sips, filled with gourmet teas that can be "read" by the Teforia infuser and infused according to a recipe developed by a tea master. The Teforia companion mobile app allows tea drinkers to personalize infusions of any loose-leaf tea to their own specifications and preferences.
"Tea is the second most-consumed beverage in the world, yet this enormous category has seen very little innovation in quality and experience," said Yves Sisteron, Managing Partner of Upfront Ventures. "The Teforia team has created a deeply technical yet beautifully designed product that truly captures the tea ritual and we're thrilled to support their continued vision and development."
This financing round will empower Teforia to deliver on its vision to elevate the tea experience for tea drinkers across the world, and comes at an opportune time for the tea market in the U.S., which is seeing consumers drift more and more away from coffee and towards tea. The shift, in large part, is generational: While older Americans have generally preferred coffee, according to research from polling company YouGov, coffee and tea are equally popular among millennials. This is a large driver in the booming growth of the tea market, which has seen the total wholesale value of tea sold in the U.S. rise from less than $2B in 1990 to greater than $10B in 2014 (Source: Financial Times).
"The future is incredibly bright for Teforia," said Jay Eum, co-founder and managing director, Translink Capital. "As the tea market continues to grow globally, we know that as the company gears up for a successful launch in the U.S., that will only be the beginning. We believe the opportunity for the company could be huge in Asia where tea is deeply integrated into the culture. We're excited to be on board as this unique innovation makes its way across the globe in years to come."
Teforia "Tastemakers" are external, unpaid beta testers who applied for the opportunity to test the infuser. Here's what a few of these "Tastemakers" said after getting an early look:
"I'm on a trip and am totally conscious of how I miss [my Teforia]. From a flavor perspective (especially the consistency) as well as convenience. To not be able to get a great cup of tea without a struggle has been present with me all day!" - Ken
"I prepared the same Japanese green tea three ways: using the [mesh ball tea infuser] [a traditional Chinese infuser and the Teforia]. The Teforia was optimal; You can smell the rich flavor and you can actually taste the roasted rice unlike the other two." - Robert
"The difference in taste was startling [in a side by side comparison of the Japanese green tea in the Teforia vs. a conventional infusing method]. I am not a green tea drinker but I would drink this green tea if it's brewed in the Teforia." - Jordon
For more information on Teforia, please visit www.Teforia.com.
Teforia blends the ancient tradition of tea with first-of-its-kind technology into a sensory experience for the modern world. The company's flagship product, Teforia, is the first machine-learning tea infusion device that infuses the best cup of tea you've ever had automatically, with the tap of a finger. Part companion and part guide, Teforia helps you discover, enjoy and journey into the world of authentic and exceptional tea, all tailored to your own preferences. Led by founder & CEO Allen Han and CTO Kris Efland, Teforia was founded in 2014 and is headquartered in Mountain View, CA. For more information, please visit: teforia.com.