UK: Tempeh start-up lands £500k Seed funding ahead of UK retail expansion
Alt-protein business founders share over 20 years experience including sales and marketing at Heinz
UK alt-protein start-up Tiba Tempeh has closed a £500,000 Seed round led by THIS investor Lever VC.
The tempeh maker will re-invest the capital in product development, operational expansion and marketing efforts as it prepares for numerous UK retail listings.
Tiba Tempeh was founded by former Heinz UK marketing lead Ross Longton and ex-head of grocery sales for UK plant-based milk brand Plenish Alex Longton.
Both have over 20 years experience in food and FMCG between them.
The pair established the business 2019 in an effort to capitalise on the growing plant-based trend and expand the popular soy-based protein category which includes tempeh and tofu.
Tiba products, including a temper burger, are currently available in Ocado, Planet Organic, Whole Foods and Selfridges.
The firms expects to grow its international reach in the short-term.
Alex Longton, MD for Tiba Tempeh, said of the investment round: “We are extremely excited about our partnership with Lever VC, which will accelerate our growth both in the UK and internationally.
“Lever VC’s expertise in the sector will add significant value to further scale the business and help us on our mission to create a healthier world by inspiring people to eat more naturally healthy and sustainable plant-based foods.” He added.
“Tempeh is a growing category opportunity for consumers who want more natural meat alternatives, and Tiba is hands down the best tasting tempeh product we’ve ever come across,” managing partner of Lever VC Nick Cooney said.
“We think Tiba Tempeh’s very experienced team, strong brand, exciting innovation and growth plans will position them to be a leading global brand in the category.”
Lever VC completed a $46 million fourth close of its first fund in April 2021.