A drink manufacturer has secured £1.5 million in new funding to support its international growth plans.
Saicho is based in Solihull and produces non-alcoholic, single-origin, sparkling tea and already supplies Michelin-starred restaurants and five-star hotels across 14 countries.
This new investment will be used to expand marketing efforts in key markets including the º£½ÇÊÓƵ, China and the Middle East, grow the team across several regions and boost production with new equipment.
Chief executive Charlie Winkworth-Smith launched the business with his wife Natalie in 2023.
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He said: "This investment is a significant step forward for Saicho as we accelerate our growth in key markets and continue to innovate.
"This will allow Saicho to reach more people who are seeking delicious and healthy alternatives to alcohol.
"We are passionate about promoting mindful drinking and creating inclusive social experiences for everyone, regardless of their alcohol consumption choices."
The £1.5 million funding round was led by a £500,000 investment from the West Midlands Co-Investment Fund, managed by Birmingham-based Future Planet Capital Regional.
Additional funding came from a group of private angel investors including one of Saicho's Chinese distribution partners.
Rupert Lyle, investment director at Future Planet Capital Regional, added: "We were immediately impressed by Charlie and Natalie's vision and passion for creating a truly unique non-alcoholic beverage experience.
"Their commitment to quality, unique product offering, and strong brand resonate with consumers seeking healthier and more mindful lifestyle choices.
"We are confident in their ability to become a global leader in this exciting and evolving market."
West Midlands Co-Investment Fund is funded by the West Midlands Combined Authority and West Midlands Pension Fund and aims to support high-growth SMEs that contribute to the regional economy.
West Midlands Mayor Richard Parker added: "Charlie and Natalie have hit on a winning formula and I'm looking forward to seeing them take their unique sparkling tea to bars and restaurants across the world following our investment."
