TRIBE Secures £2.4m to Push Growth and Innovation
Deal News | Jan 15, 2025 | Mercia Fund Management (Mercia Ventures)
TRIBE, a UK-based natural energy snack brand, has successfully raised £2.4 million in a funding round led by Mercia Ventures, with participation from Yeo Ventures, Crowdcube, and private investors. The company, founded in 2015 by former lawyers Robert Martineau and Tom Stancliffe, aims to use the funds to drive further growth, launch a new Protein + Focus product line, and make several senior appointments. Already available in major supermarkets, TRIBE is known for its vegan, gluten-free snacks and supports the TRIBE Freedom Foundation, a charity fighting modern slavery. The new funding will also support TRIBE's ambitious revenue goal of over £20 million by 2027. The new round of investment includes Steve Rich, former Managing Director of FulFil, as Chair, providing strategic leadership as the company seeks to capitalize on consumer trends shifting towards healthier snacking options.
Sectors
- Food & Beverage
- Private Equity & Venture Capital
Geography
- United Kingdom – TRIBE is a UK-based company headquartered in London, with a network spanning several UK cities.
Industry
- Food & Beverage – The article focuses on TRIBE, a company in the food and beverage industry, particularly targeting the healthy snacks market.
- Private Equity & Venture Capital – The article discusses funding involving Mercia Ventures, a private equity firm, looking to leverage consumer trends in healthy snacking.
Financials
- £2.4 million – The amount raised by TRIBE in the funding round led by Mercia Ventures.
- £4 million – TRIBE's revenue for the year 2024.
- £20 million – TRIBE's projected revenue by 2027.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| TRIBE | Target Company | Company | A natural energy snack brand in the UK, aiming for growth and expansion with new funding. |
| Mercia Ventures | Investor | Company | The leading investor in TRIBE's £2.4 million funding round, actively supporting growth in the healthy snacks market. |
| Yeo Ventures | Investor | Company | Participated in the funding round to support TRIBE's expansion and alignment with consumer health trends. |
| Crowdcube | Investor | Company | Played a role in the funding round alongside other investors. |
| Robert Martineau | Co-founder | Person | Co-founder of TRIBE, focusing on building a community-driven natural snack brand. |
| Tom Stancliffe | Co-founder | Person | Co-founder of TRIBE, emphasizing their mission to combat modern slavery through community engagement. |
| Steve Rich | Chair of TRIBE | Person | Newly appointed Chair, previously led FulFil's sale to Ferrero, bringing leadership and strategic experience to TRIBE. |
| Rafael Joseph | Investment Manager at Mercia Ventures | Person | Instrumental in facilitating TRIBE's funding round, supporting their strategic direction. |
| Christopher Gale | Investment Manager at Yeo Ventures | Person | Part of the investment team at Yeo Ventures, helping to navigate TRIBE’s market strategy and growth. |
| TRIBE Freedom Foundation | Charity | Charity | Sister charity to TRIBE, dedicated to combating modern slavery with a portion of sales proceeds. |