EAST FORGED SECURES $1.5M FROM VIETNAM’S LEADING AGRIBUSINESS TO TAKE AUSTRALIAN COLD BREW NITRO TEA GLOBAL
Brisbane, Australia. September 18, 2024
Premium cold brew nitro tea producer, East Forged, has successfully completed a $1.5 million capital raise led by Global Mind Agriculture Australia (GMAA), the venture capital arm of Vietnam’s leading agribusiness TTC AgriS.
The funding will accelerate East Forged’s production capabilities, support its expansion into key Asian markets, and solidify its position as a leader in the rapidly growing craft tea movement. Since its inception in 2020, East Forged has carved out a unique space in the beverage industry by offering the only iced tea cold brewed naturally without added sugars, colours, or artificial flavours. Available at Harris Farm, select IGAs, and WHSmith stores across Australia, East Forged’s ready-to-drink range has captured the attention of ethically minded, health-conscious consumers looking for a refined alternative to sugar-laden iced teas.
Founded by tea industry veterans Kym Cooper, a leading hospitality tea consultant, and Tania Stacey, a World Tea Brewing Champion, East Forged was created with a mission to offer consumers a tea experience that goes beyond exceptional taste. Rooted in a commitment to health, sustainability, and craftsmanship, East Forged sources its green, black, and white tea leaves from ethical growers in Australia and China. Each batch is brewed in Sydney for up to 12 hours using a cold-brewing process that enhances the delicate, nuanced flavours of the tea, removing the need for added sugars or sweeteners.
“We set out to elevate tea from a functional beverage to something much more refined, similar to what the craft beer industry has achieved,” said Ms Cooper. “
By cold-brewing,we’ve created a naturally flavourful tea that doesn’t need any of the sugars or artificial additives typically found in commercial iced teas.”
The innovative cold-brewing process, combined with nitrogen infusion at the canning stage, sets East Forged apart from others in the market.
This infusion process, inspired by the smooth pour of Guinness, adds a unique creaminess and luxurious mouthfeel to the tea, providing a sensory experience that is rare in the iced tea market.“Nitrogen gives our tea a rich, velvety texture, often compared to a perfectly poured pint of Guinness or the fine beading of vintage champagne,” Ms Stacey explained.
“We’re sometimes described as the Guinness of the tea world and we’re honoured by that.”
The $1.5 million investment from GMAA marks a pivotal moment for East Forged as it seeks to expand internationally with a focus on Asia. GMAA is a pioneer business within TTC AgriS, the dominant player in Vietnam’s agricultural sector. GMAA CEO Duyen Doan said the investment in East Forged aligns perfectly with GMAA&39;s strategy to enhance its portfolio and support companies integral to its manufacturing processes.
“One key initiative under the international strategy is GMAA’s strategic partnership with East Forged, which marks the beginning of our market expansion. This collaboration brings a new line of ready-to-drink tea products, proudly made in Australia, to the ASEAN region. “
TTC AgriS Chairlady Omi Dang said TTC AgriS’s growth strategy in Australia is deeply rooted in the agriculture and food industries, integrating cutting-edge technology with sustainable practices. “By partnering with local businesses through co-investments and strategic agreements with small-to-medium enterprises (SMEs) in the food and beverage sector, we’re focused on driving organic growth. Our thanks to Trade and Investment Queensland for connecting and accompanying the International Business Development Strategy of TTC AgriS and GMAA in Australia.”
“We are thrilled to have GMAA as a key investor and partner in our journey,” Ms Stacey said.This investment will enable us to scale our operations and reach new markets while staying true to our core mission of offering consumers a healthy, premium tea experience. The craft tea movement is gaining momentum globally, and we’re thrilled to be at the forefront of that change.”
The capital raised will allow East Forged to boost production at its Sydney-based facility, improve distribution networks, and establish its footprint in major Asian markets, including South Korea and Japan. The brand is also looking to enter premium retail outlets, boutique
cafes, and online platforms that cater to consumers seeking high-quality, health-focused products.
In addition to expanding internationally, East Forged is doubling down on its commitment to sustainability. By sourcing tea leaves from local and ethical growers and ensuring an eco-friendly production process, the company aims to set new standards for environmental responsibility in the beverage industry.
Beyond private investment, East Forged also benefited from the Federal Government’s Boosting Female Founders (BFF) grant program, receiving $125,000 before the program was discontinued. The founders credit the BFF grant as pivotal to their early success. “The BFF grant was instrumental in helping us bring our innovative beverages to market,” said Ms. Cooper. “It not only provided crucial funding but also allowed us to connect with investors and mentors who share our vision for the future of tea.”The grant played a crucial role in enabling East Forged to test and refine its product, allowing it to scale faster and establish itself as a leading brand in the craft tea category.
About East Forged:
Founded in 2019, East Forged is an Australian company dedicated to crafting premium cold brew tea infused with nitrogen for a creamy, textured drinking experience. Using Australian-grown teas and whole plant-based ingredients, East Forged delivers healthy, ready-to-drink tea beverages that challenge the norms of the traditional tea industry. Co-founded by tea specialists Kym Cooper and Tania Stacey, East Forged is committed to promoting ethical sourcing, sustainability, and innovation in tea. The brand is rapidly expanding nationally and internationally with an initial focus on South Korea and Southeast Asia.
Find out more at https://eastforged.com/
About TTC AgriS:
Thanh Thanh Cong – Bien Hoa Joint Stock Company ( TTC AgriS, Ticker: SBT – Hochiminh Stock exchange, Vietnam) is a leading multinational agricultural enterprise in the region, spearheading Vietnams sugarcane industry with a 46% domestic market share and a presence in over 50 international export markets. TTC AgriS currently owns more than 71,000 hectares of material area in Vietnam, Laos, Cambodia, and Australia, with a diverse product portfolio including natural nutrient products with optimized plants value chains and expansion investments (including sugarcane, coconut, banana, rice, etc.).Over its 55-year journey of sustainable development, TTC AgriS has proactively pioneered the leading role in sustainable agricultural economy transformation based on the Integrated SmartAgricultural Economic Model and sustainable competitive advantages in technology, aiming to optimize TTC AgriS Circular Commercial Value Chain on an international scale. With strategic development business plan until 2025 and vision until 2030, especially enhancing its presence in the globally promising F&B market, TTC AgriS aims for target revenue of VND 60 trillion by 2030.Concurrently, the company also intensifies efforts to realize the commitment to sustainable development towards Net Zero by 2035, contributing to economic and social development and sharing achievements with stakeholders.
Find out more at: https://ttcagris.com.vn/
