Bhakti puts $5M investment in the bag

Kate Tracy September 11, 2017 0

bhakti products

Bhakti’s products include chai concentrate served in quarts, gallons or growlers. (Kate Tracy)

After more than a decade brewing tea in Boulder, a chai company is spicing things up with a seven-figure investment.

Bhakti, a chai tea maker based in Boulder at 939 Pearl St. Suite 200, announced it raised $5.3 million in an SEC filing Sept. 6.

Founder Brook Eddy started the company after journeying to India in 2002. She started home brewing chai masala in 2005 and sold the concentrate to coffee shops in Boulder in 2006, according to the Bhakti website.

Seven years ago, Bhakti moved into a 4,500-square-foot production facility in Longmont. It lists 11 employees on its website.

Last year, the tea maker hired CEO Sarah Bird to run the company, with Eddy transitioning to a position on the board of directors, the Daily Camera reported.

Bhakti’s products include chai concentrate served in quarts, gallons or growlers, as well as dry teas, single-serve sparkling teas and single-serve iced chai.

The tea is available by the cup in local Denver coffee shops including Aviano, City O’ City and Caffe Sanora. Bhakti products are stocked at 25 stores in Denver, including Whole Foods, Natural Grocers, Sprouts and King Soopers, as well as online.

Ten investors contributed to Bhakti’s recent capital raise, according to the SEC filing.

Boulder is home to other chai companies, including Sherpa Chai and Sanctuary Chai. Other large American chai companies include Oregon Chai, based in Portland, Oregon, as well as Big Train Chai, based in both California and Indiana.

Bhakti declined to comment when reached Friday.

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