Natural sports nutrition brand Tribe bags £1.75m in Crowdcube campaign
"100% natural" nutrition brand will use funding to fuel product development, improve its e-commerce technology and boost marketing efforts
Tribe, featured amongst our top healthy food businesses last year, has just closed a £1.75m campaign on Crowdcube.
Initially targeting £1m, the round attracted 1,833 investors, who have taken a 24.14 equity share between them.
Founded by school friends Guy Hacking, Rob Martineau and Tom Stancliffe after a 1,000 mile charity run, Tribe is a “100% natural” alternative to the mainstream sports nutrition products, which are filled with refined sugars and chemicals. Started in Martineau’s mum’s kitchen, the trio adapted their recipes based on feedback from family and friends.
Today the brand sells a selection of 20 products – including vegan protein shakes, performance energy and recovery bars – all available through a tailored subscription plan. Its customer base has now grown to 25,000 members, while its outdoor events have attracted 10,000 attendees.
The company staged two participation events for prospective investors in mid-May – a London to Oxford cycle and a run. Members were also given an exclusive four-day opportunity to buy shares in the business before the campaign went live.
The finance will enable Tribe to fuel product development, improve its e-commerce technology and invest in digital marketing.
Hacking commented: “Tribe was inspired by Run for Love, when 250 runners joined us Forrest Gump style on the road. Since then community has been at the heart of Tribe, and it’s crucial that our community is part of this stage of our journey. We want the runners and riders who we build our products for to own the business.
“All Tribe investors will play a big part in Tribe’s evolution. All will be guaranteed a 15% lifetime discount and we will never release a product until every single shareholder has had a chance to road test it. We’re excited to welcome likeminded individuals to join the Tribe.”
Robert Leechman, Tribe chairman and investor and former global CCO of Coca-Cola, said: “When you’re talking about investing in a young brand, you want to know that it’s in the right sector, growing rapidly and the foundations are being put in place.
“I can honestly say that all of that has been achieved in the first 18 months of Tribe’s existence. The thing that really excites me about the next few years, is that after one year we’ve barely scratched the surface.”
With more and more businesses now raising +£1m crowdfunding campaigns, find out which companies scored biggest from the crowd last year here…