Drop Studio partnered with Tuk Tuk Chai on their first crowdfunding campaign on the FCA regulated platform Crowdcube. With an initial goal of £150,000, the Tuk Tuk Chai crowdfunding campaign closed the funding round 183% overfunded and with 375 investors on board.
Tuk Tuk Chai Crowdfunding – How it all started
Tuk Tuk Chai is a brand that had the courage to disturb the ready-to-drink (RTD) beverage industry by creating a new category within the market. You might have seen this name already on Sainsbury’s shelves or on BBC’s reality show Dragons’ Den. The product is a bold infusion of natural black tea leaves, creamy milk, spices and just a pinch of sugar. Being the first ever brewed authentic chai in the UK, the brand quickly found its place in the heart of Britain’s milk tea loving nation.
The story of Tuk Tuk Chai began on the streets of Kerala where Alex, the co-founder of the brand, found her love for Indian home-brewed chai. After returning to London she and her partner - Rupesh, could not find a high-quality alternative. Ultimately, that led to the conception of Tuk Tuk Chai. Two years later, the couple are enjoying numerous achievements. To mention a few, the brand won the prominent award for the Most Innovative Product at one of the top trade shows within the industry and reached the finals of the 2017 Virgin Foodpreneur competition.
Tuk Tuk Chai Crowdfunding – How Drop Studio supported them
Drop Studio joined their journey, right after Alex and Rupesh decided to crowdfund the next stage of their product’s growth through an equity campaign on Crowdcube. On the whole, we worked on the Tuk Tuk Chai crowdfunding campaign for more than 2 months. As you know, for a successful crowdfunding campaign a high-quality video is really important. For this reason, Drop’s filmmaking team travelled to London, met with the founders and summarised their story in a short 5-minute professional crowdfunding video. To ensure that the brand’s values were communicated to the right audience, our marketing team prepared a detailed crowdfunding strategy and various personalised content templates – from pitch text, through to social posts and Facebook ads, to emails.
Tuk Tuk Chai Crowdfunding - Results
The Tuk Tuk Chai crowdfunding campaign was a smashing success. To begin with, the brand reached the initial £150,000 target with ease during the first 24 hours. Without delay, a week later Tuk Tuk Chai reached £200k and finally closed the Crowdcube round overfunded by almost 200%. It was a pleasure to support their crowdfunding journey until it's very end.