Mayor Richard Parker has raised a glass to the future success of a West Midlands company whose non-alcoholic sparkling tea is fast becoming the ‘go to’ drink for diners in Michelin Star restaurants and luxury hotels.
Solihull-based Saicho has been awarded a £500,000 investment from a fund set up by the West Midlands Combined Authority (WMCA) and West Midlands Pension Fund to support and grow some of the region’s most innovative but smaller businesses.
The West Midlands Co-Investment (WMCO) fund, which is managed by Future Planet Capital Regional, seeks out local companies like Saicho with high potential for rapid growth and expansion.
The WMCO investment, together with additional private sector support will see the firm get £1.5 million seed funding so it can take its alcohol-free fine wine alternative to new markets in the UK and abroad including China and the Middle East.
The company was launched by Solihull husband and wife Charlie and Natalie Winkworth-Smith to meet the growing demand for high quality non-alcoholic drinks among a more health-conscious public.
Richard Parker, Mayor of the West Midlands and WMCA chair, said: “Charlie and Natalie have hit on a winning formula and I’m looking forward to seeing them take their unique sparkling tea to bars and restaurants across the world following our investment.
“Backing local entrepreneurs and startup businesses is crucial to my plan for growth – so that we can see them succeed and create the jobs and prosperity our region needs.”
Saicho was founded in 2019 by Charlie and Natalie, who met while studying for their PhDs in Food Chemistry. Inspired by Natalie’s intolerance to alcohol, they set out to create a sophisticated alternative to wine that didn’t compromise on flavour, complexity or occasion.
Drawing on their scientific backgrounds and passion for tea, they developed Saicho —cold-brewed, single-origin sparkling teas designed to pair beautifully with food and elevate moments traditionally centred around wine.
Charlie said: "This investment is a significant step forward for Saicho as we continue to innovate and accelerate our growth into key markets.
“This funding will allow us to reach more people who are seeking delicious and healthy alternatives to alcohol. We’re passionate about promoting mindful drinking and creating inclusive social experiences for everyone, regardless of their alcohol consumption choices.”
The WMCO aims to support high growth, small and medium sized enterprises (SMEs) that contribute to the regional economy. The fund provides equity investments of up to £1 million, matched by private co-investment. It also generates a commercial return to the authority which can be used to provide further support for businesses.
Rupert Lyle, investment director at Future Planet Capital Regional and fund principal of WMCO, said, "We were immediately impressed by Charlie and Natalie's vision and passion for creating a truly unique non-alcoholic beverage experience.
“Their commitment to quality, unique product offering, and strong brand resonates with consumers seeking healthier and more mindful lifestyle choices. We are confident in their ability to become a global leader in this exciting and evolving market.”
