UK tempeh brand Tiba Tempeh has raised over £1.1 million in funding. The round was led by Maven Capital Partners through its Northern Powerhouse Investment Fund II, supported by the British Business Bank.
Perfect Redd, the venture capital arm of Samworth Brothers, also made a follow-on investment. The funding will be used to enhance Tiba Tempeh’s marketing, sales, and product development, with new product launches planned for 2025.
The news comes after Tiba Tempeh saw its retail sales value increase by a huge 736% in the past year, reportedly becoming the fastest growing brand in the UK chilled meat-free category*. The company has contributed £1.2 million in retail sales value over the past year, as demand for less processed meat alternatives continues to rise.
Tiba Tempeh’s rapid growth has been made possible by an expansion into new retail outlets; its products launched at Sainsbury’s and Morrisons last year, and are also available from Ocado. Additionally, the brand has expanded into France and Spain, with listings at retailers such as Carrefour.
“Creating a healthier world”
Tiba Tempeh was founded in 2019 and offers a range of tempeh products, including the Original Block, Plant-Based Mince, and a selection of Marinated Pieces. The brand is a certified B Corp, and its products are said to be made from 100% natural and organic ingredients. They are also high in protein and fibre, vegan, and gluten-free.
Tiba Tempeh previously raised £500,000 in seed funding in 2022, followed by an undisclosed sum from Samworth Brothers the following year.
“We’re incredibly proud to be the fastest-growing brand in the UK’s chilled meat-free category, fulfilling consumer demand for more natural and nutritious products,” said Ross Longton, co-founder of Tiba Tempeh. “The investment will help us accelerate our growth and support our mission to create a healthier world by inspiring people to enjoy more delicious, naturally healthy, and sustainable plant-based food.”
* Nielsen IQ | Chilled meat alternatives | GB total coverage | Latest 52 weeks – w/e 22/02/2025
