Posted on September 7, 2018

Organic chai brand raises another $2.2 mil’

Oregon Tilth granted Bhakti's organic certification in December

Bhakti Inc., a brewer of organic, Non-GMO Verified and Fair Trade artisan and sparkling teas and fresh spicy chai and chai concentrate, said it has raised $2.2 million in its latest equity offering.

Boulder, Colo.-based Bhakti has been a Certified B Corp. since July 2012 and its organic certification was granted in December from Oregon Tilth Certified Organic. A request for information on the recent organic certification was not immediately returned.

Boulder, Colo.-based Bhakti was founded in 2007 by Brook Eddy, who, after traveling to India to research a movement based on the principles of Bhakti, or “devotion through social action," developed her own chai recipe, which she began bottling and selling throughout Boulder. Eddy will serve as chairwoman of the company’s board.

Eddy stepped down as CEO in 2016 and was replaced by Sarah Bird, former chief marketing officer of iconic organic brand, Annie’s Homegrown. Eddy remains on Bhakti’s board as does John Foraker, the former president of Annie’s and current CEO of organic baby food brand, Once Upon a Farm LLC, which he joined last year.

Bhakti’s products are sold at Whole Foods Markets, natural and independent markets, Costco, Kroger, Target and cafés nationwide.

In August 2017, Bhakti raised $5.3 million in an equity offering with 10 investors participating in the round. In February 2015, Bhakti raised $4.9 million in an equity offering with two investors participating in the round. The company used $1.5 million of the proceeds to redeem stock from Brook Eddy and other stockholders.

VIDEO: Watch how Bhakti’s social giving platform helps women

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