Maven Equity Finance, which is managed by Maven as part of the Northern Powerhouse Investment Fund II, has invested £1 million in fast-growing plant-based food business, Tiba Tempeh Ltd ("Tiba Tempeh").
The investment will support Tiba to invest in marketing, sales and further product development, with exciting new products lined up to launch in 2025.
Founded in 2019 by Alexandra and Ross Longton, Tiba Tempeh is a certified B-Corp that has grown rapidly in the plant-based food market, where consumers are demanding more natural and nutritious products. Headquartered in Newcastle, Tiba Tempeh’s products are available in major UK and European supermarkets including Sainsbury’s, Morrisons, Ocado, Carrefour, and Leclerc. The business is now gearing up for further UK and European expansion.
As consumers continue to move away from ultra-processed foods and with many people now either avoiding or reducing their meat consumption, tempeh is now one of the fastest growing meat-free segments on the market. The business offers a range of innovative tempeh products including an Original Block, Plant-Based Mince, and a range of Marinaded Pieces that provide a meat-free solution for everyday meals. Unlike most meat alternatives, Tiba Tempeh is made from 100% natural and organic ingredients and is high in protein and fibre, gut-friendly, 1 of your 5 a day, vegan and gluten-free.
