Natural energy food company raises £2.4m for expansion
A investment round led by Mercia Ventures and involving Yeo Ventures, Crowdcube, and individual investors has raised £2.4 million for Tribe, a brand of natural energy snacks.
The funding, which comes as the company launches its new ‘Protein + Focus’ range with lion’s mane mushroom, will enable it to continue its rapid growth and make seven new senior appointments.
Tribe’s products are all vegan, gluten-free and contain only natural ingredients. They 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 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.
Tribe delivered revenue of £4m in 2024 and plans to reach over £20m by 2027. The company, which has its head office in London, employs a ten-strong team and uses a network of subcontractors, with logistics carried out in Dudley and manufacturing at sites in Leicester, Chester, Rochdale and Corwen, Wales.
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.
Tom Stancliffe, co-founder of Tribe, said: “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.”
Rafael Joseph of Mercia Ventures added: “With consumers moving away from ultra-processed foods, healthy snacks are amongst the fastest-growing grocery categories. Restrictions on displaying ‘unhealthy’ foods in supermarkets are also bolstering Tribe’s sales. Tribe has all the ingredients for success – an exceptional product underpinned by consumer trends and the ideal team to back it up.”
Christopher Gale, investment manager at Yeo Ventures, said: “Tribe aligns well with our thesis to drive the transition towards a natural and healthy food system, and we look forward to seeing the meaningful impact that the business will have in this evolving market.”
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