Premium bottled water brand, LoveTideWater secured a five-figure- investment via the Finance for Business £10.5m North East Angel Fund operated by Rivers Capital Partners. Now eager to scale-up, is seeking a second round of funding to realise growth strategy.
Darlington-based LoveTideWater bottles the finest quality spring water sourced from Herefordshire, an area of outstanding natural beauty and purity. The unique sandstone geology beneath the spring is responsible for the subtle blend of minerals and crystal clear water. Sourced over 35 metres below protected land, the water is naturally filtered by layers of rock on its journey to the surface. No chemicals or contaminates are used near the spring, keeping the land organic and the water pure.
Founder, Valerie Colling is the driving force behind the business. The initial deal with Rivers Capital has enabled LoveTideWater to build a brand that consumers can associate with, carrying out extensive market research, marketing and design work to position LoveTideWater as a premium brand. The investment also supported the first production run of 330ml and 750ml glass bottles in both still and sparkling water.
Valerie said, “I am grateful to the team at Rivers Capital for believing in me and my vision, the whole process has been life changing.
“With serious plans to close a second round of funding by the end of the year I hope to realise my dream of becoming an international distributor and enter into new markets with fresh and innovative product lines.”
Now a supplier to the Brasserie within Rockcliffe Hall, The County, Aycliffe Village and other affluent restaurants in the region the business is going from strength to strength.
Looking ahead LoveTideWater is working to secure a second tranche of funding to enter into national and international markets and expand the product range adding fruit concentrates and vitamins to the water.
The initial funding was secured via the North East Angel Fund managed by Rivers Capital Partners. Dr Michael Dickens, Fund Manager for the Angel Fund, led the investment via the fund’s core capital from the Finance for Business North East programme.
Jonathan Gold, Managing Director of Rivers said, “LoveTideWater has shown great promise in a crowded market. Valerie has a proven track record in business and has built a solid client base. With such a dedicated and passionate Founder we committed to finding other investors to support the company’s growth plans.”
The North East Angel Fund is also known as the flexible Fund for growing innovation because of its tailored investment process and ability to follow its money. The Fund aims to boost the regional economy and since inception in 2010, has created over 360 jobs and safeguarded over 280.