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Tavalon Tea Bar, a New York City-based retailer and wholesaler of tea drinks and products, is actively holding talks with investors to fund growth, CEO John Paul Lee said. The multi-faceted company is looking to raise USD 2m-6m by the end of this year, to support the expansion of Tavalon stores in key New York City locations and major cities across the US, and further invest in its wholesale and e-commerce business. The USD 1m company has 20 employees and has named Bloomingdales and the Gansevoort Hotel as two of its clients. Lee said Tavalon is gathering interest from angel investors and private equity, and would be open to selling a stake to investors with a good platform and the right skills set, he said. Lee, 28, shares ownership of Tavalon with two other partners and said he owns a majority stake in the company. The company is collaborating with Yolato, a yogurt dessert company, to open 4 new stores in the next three months. The company has also received interest from international investors and is planning on opening a store and a wholesale business in Brazil by the end of this year. Lee said he saw a market in the United States, a minor consumer of tea, during his travels abroad. He said the goal is bringing tea back to the forefront by presenting it in an innovative and tasty way. Lee has named Teavana as his competitor. A former management consultant, Lee studied finance and computer information systems in Virginia and is planning to attend graduate school for business once his business is walking and running, he said.

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