TeaLeaf, a US-based startup is finalising a deal to raise $6 million with the support of UAE-based investment firm FasterCapital.
The UAE firm said it enabled the startup to raise the fund after joining its ‘Raise Capital’ programme.
The startup provides a platform that would allow businesses to buy and sell tea, making information on the market of quality and price of tea available to everyone.
It provides b2b access and also allows merchants to offer b2c services and sell through its platform.
TeaLeaf was founded in 2020 by a group of friends who were passionate about tea.
The Raise Capital programme is aimed at helping startups and SMEs worldwide connect with angels and VCs and get funded using an AI system with the total support of a complete team of financial experts, internal investors, and mentors.
“Working with startups around the world on raising capital over the last few years has shown us clearly that fundraising is the biggest challenge startups are facing,” Hesham Zreik, CEO of FasterCapital, said.
“FasterCapital is hopefully providing the right tools to face this challenge and overcome it,” he said.
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