TRIBE
Natural energy snack brand raises £2.4m to fuel further growth.
TRIBE – the UK’s leading natural energy snack brand – has raised £2.4m in a funding round led by Mercia Ventures and including Yeo Ventures, Crowdcube and private investors.
The funding will enable the company to continue its rapid growth and make seven new senior appointments. TRIBE’s protein and energy snacks are all vegan, gluten-free and contain only natural ingredients. The products - which include flapjacks, protein bars, muesli and shakes - are stocked at major supermarkets and health food stores such as Sainsbury’s, Tesco, Waitrose, the Co-op and Morrisons.
The company gives one pence from every TRIBE bar sold to its sister charity, TRIBE Freedom Foundation, and has built a strong community with a shared passion for the outdoors. To date over 400,000 people have taken part in its runs and events and it has raised more than £1.9m to combat modern slavery.
TRIBE more than doubled its sales via supermarkets in 2023 and is on track to deliver revenues of £4m in 2024. It plans to reach over £20m in revenues by 2027.
TRIBE was founded in 2015 by former lawyers Robert Martineau and Tom Stancliffe, who had previously set up Run for Love, a 1,000-mile run to raise funds to combat modern slavery. After realising they could not find energy snacks without refined sugars and additives, they decided to make their own.
As part of the funding round, the company has appointed a new Chair in the form of Steve Rich, the former Managing Director of FulFil who led its sale to Ferrero for £140m in 2022.
Christopher Gale, Investment Manager at Yeo Ventures, said:
“We are delighted to be partnering with Tom and Rob, alongside the team at Mercia Ventures, to support TRIBE in the next phase of its growth journey. Positioned at the intersection of sports nutrition and healthy snacking, TRIBE provides a natural alternative to the ultra-processed products that no longer meet the needs of today’s health-conscious consumers. TRIBE aligns well with our thesis to drive the transition to a natural healthy food system, and we look forward to seeing the meaningful impact that the business will have in this evolving market.”
Tom Stancliffe, co-founder of TRIBE, added:
“Our journey began with a £1,000-mile run to fight modern slavery and our mission is to fuel active lives with natural energy. We are really excited and proud to partner with Mercia and Yeo Ventures for the next stage in our journey. Our new Chair, Steve Rich, also brings huge experience and knowledge to our Board as we look to accelerate our growth.”