A First Nations-owned business that produces alcohol-free drinks infused with native botanicals has scored a $125,000 deal from the TV show Shark Tank.
The Queensland-based company called Yaala (which means 'the present moment' in Wiradjuri language) Sparkling got a quarter of a million-dollar investment from Shark Tank judge and businesswoman Dr Catriona Wallace.
Yaala Sparkling co-founder Tara Croker said she was thrilled Dr Wallace was an investor in the business.
"Her deep knowledge and experience will be valuable in taking our business to its next stage of growth," she said.
The rapidly growing native foods and botanicals industry is thought to be worth up to $50 million a year, and yet less than two per cent of businesses in the native food sector are Indigenous-owned.
Ms Croker said the mission with Yaala Sparkling was to establish an Indigenous-owned business in the native food industry and increase First Nations representation in the industry.
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"At Yaala Sparkling we work with First Nations suppliers throughout our supply chain and business, including wild harvesters, local farmers, and artists," she said.
"Any business using native plants and knowledge passed down over generations has a duty and responsibility to preserve traditional knowledge and invest back into the community".
While the company was only founded earlier this year, two of its sparking water products are already on Dan Murphy shelves - Lemon Myrtle and Native Blossom and Davidson Plum and Waratah.
Dr Wallace said she invested in Yaala Sparkling because the business and product filled a currently unmet need in the soft drink industry.
"Indigenous-inspired and Australian native plant-flavoured sparkling water will be hugely successful, not only in Australia but internationally," she said.
"The care, crafting and quality of these drinks is second to none and the entrepreneurs are exceptional.
"I have worked with many Indigenous-led businesses in the past and I am so thrilled to be teaming up with Mel and Tara to bring this business to scale".
