Just two years after securing more than £1 million through its previous equity crowdfunding round, UK-based sports nutrition brand, TRIBE, has returned to Crowdcube to raise £1 million, which the company quickly raised. Prior to launch, the campaign achieved £759,000 from 20 existing investors. TRIBE is offering 9.99% in equity with a £10,126,272 pre-money valuation.
TRIBE revealed it was inspired by a 1,000-mile run the three founders completed in 2013 to fight human trafficking. The company further explained:
“Frustrated with synthetic sports nutrition and rooted in the belief that business should be a force for good we started TRIBE with the mission to revolutionise the world of performance nutrition by trusting nature and to inspire our TRIBE to reach their infinite potential. Fast forward 4 years and we have now sold over 2m TRIBE products, built our TRIBE of 70k online customers, have a social media following of 50k people and over 100k people have participated in TRIBE runs, hikes, swims and adventures.”
TRIBE also reported that it is building the Everyday Performance brand of the future, putting Community, Nature and Social Mission at its core. TRIBE is raising funds to continue its growth to:
- Invest in NPD to develop the most innovative products
- Grow its international presence
- Invest in its modern lifestyle brand that has a huge social impact
The campaign is set to close at the end of August.
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