PerfectTed co-founder Teddie Levenfiche says chasing valuations isn’t the goal, as the matcha brand hits a £140 million milestone.
Teddie Levenfiche, the co-founder of booming matcha brand PerfectTed, has downplayed talk of “vanity metrics” following another huge cash injection.
London-based Felix Capital recently procured a minority stake in the emerging challenger, according to new filings at Companies House.
Records revealed the business benefitted from £8 million in fresh capital, though how much of that figure can be attributed to the investment partner is unclear.
The hugely successful fundraising round placed PerfectTed’s valuation at a blockbuster £140 million — 280 times the price put on the brand when it appeared on BBC One’s Dragons’ Den in 2023.
Steven Bartlett and Peter Jones agreed to pledge £50,000 in return for a 5% stake each.
Bartlett, in particular, has been an avid backer ever since, investing a further £1 million into the business last year via his Flight Story fund.
Considering Bartlett’s public support — and PerfectTed’s position as a trailblazer in a burgeoning matcha category — this latest news understandably drew huge press attention.
Headlines hailing PerfectTed as the “most successful Dragons’ Den deal ever” hit print, while web articles covering the many human interest elements took over digital frequencies.
However, Levenfiche, who launched the matcha maker with Marisa Poster in 2021, was quick to play down the media buzz.
He described talk of revenue and valuations as “vanity metrics”, adding that it’s “very far removed” from how the duo feel about the journey.
“Honestly, this headline means nothing,” he wrote on LinkedIn. “And I know that sounds performative… but it’s the truth.
“This journey is about so much more than building a valuable business.
“What started as a goal to put great matcha on every UK high street became a goal to put it on every high street worldwide.
“And now? Well, the business has become a way for us to express ourselves and inspire other dreamers to just go for it.
“Because if we can turn a ‘cute little matcha brand’ into this, you can build something just as big or bigger.”
PerfectTed’s range can be found in major high-street retailers and supermarkets, including the likes of Tesco, Sainsbury’s, Waitrose, and Holland & Barrett.
Sold as a healthy alternative to energy drinks, its matcha-based products span original powders, flavoured blends, coffee pods, canned green tea drinks, and lattes.
With over 10 million products sold, PerfectTed claims to be the fastest-growing natural energy drink in the UK and the largest matcha brand in Europe.
To supplement its retail offering, the brand also supplies industry partners such as Caffè Nero, Joe & the Juice, and Black Sheep Coffee.
In June, PerfectTed was named the fastest-growing founder-led start-up in the UK by For Entrepreneurs, By Entrepreneurs.
Rankings showed a two-year compound annual growth rate (CAGR) of 532% and £8.2 million in revenues in 2024.
Earlier this year, Bartlett claimed on LinkedIn that PerfectTed was forecasting £30 million in annual revenues and well on the road towards £100 million in the not-so-distant future.
To find out more, head to PerfectTed’s website.
SEE ALSO: Juicy Peach Is Here! The Latest PerfectTed Healthy Energy Drink Flavour
