65-mile bike ride used to tempt investors as sports nutrition brand seeks £1m
3 min read
12 May 2017
Sports nutrition brand Tribe is on a mission to raise £1m from investors, and its campaign will kick off by inviting potential backers on a 65-mile bike ride.
Launched in 2015 by three friends who met at school, Tribe founders Guy Hacking, Rob Martineau and Tom Stancliffe plan for their sports nutrition brand to be the largest in Europe by 2025.
To achieve this, the company will begin a crowdfunding campaign on Crowdcube on Monday 15 May to raise £1m.
However, in keeping with the sports nutrition brand’s values, Tribe is hosting two events to lure potential investors:
(1) A 65-mile London to Oxford bike ride on Saturday 13 May
(2) A 6km London run on Tuesday 16 May
Both sporting sessions will offer would-be backers the chance to quiz the owners of the sports nutrition brand about the vision and how to get involved. The cycle will culminate in a pub lunch and the run is to at Tribe HQ, where smoothies and bars will be supplied by the sports nutrition brand.[rb_inline_related]
Capital raised will help support product development, with more goods to arrive later this year. Elsewhere, capital will also go towards enhancement of ecommerce technology, digital marketing and unique live events.
The sports nutrition brand prides itself on being a company that specialises in natural products, avoiding mainstream options the founders claim are “filled with refined sugars and chemicals, didn’t give them what they needed to perform”.
Said performance was need Eastern Europe charity event Run For Love, which consisted of 39 marathons in 30 days.
Tribe co-founder Hacking, said: “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 per cent 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.”
A lot has changed since the business started in Martineau’s kitchen, at which time plastic pouches of product were sealed with hair straighteners. Now there are 20 Tribe products, inclusive of protein shakes for vegans and recovery bars.
Since launch 18 months ago, Tribe has grown to include 25,000 members and more than 10,000 attendees at the its outdoor events. The sports nutrition brand has revenue of £600,000 and month-on-month growth of 20 per cent since Q3 2015.
Former Coca-Cola CCO Robert Leechman is Tribe’s chairman and an investor, who claims the brand has barely scratched the surface.
“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,” he said.