Hunter & Gather Avocado Mayo

Hunter & Gather won listings with Tesco for its three avocado mayos as part of the retail giants new accelerator programme

Hunter & Gather has secured a six-figure investment to support its expanding retail distribution and maintain rapid growth.

It valued the cross-category healthier foods brand at £22m, a significant rise on the £8.1m valuation when the business raised £1.2m in a 2022 Seedrs crowd round.

The latest £500k funding came from existing investors, including Childs Farm founder Joanna Jensen and other high net-worth backers, and was led by Black Investment.

Hunter & Gather will use the money to invest in its supermarket footprint, which includes a recent new listing with Tesco for three of its avocado oil mayonnaise SKUs, and also to support its DTC channel.

CEO and co-founder Amy Moring said: “Being able to complete this full £500k bridging round solely with existing investors really goes to show the belief in the Hunter & Gather brand and the growth potential.

“It feels like we are just getting started when it comes to growth opportunities ahead. Unlocking new retailers such as Tesco recently and the launch of exciting NPD in the pipeline, we can’t wait to continue to bring value to our investors, as well as improve the health of the nation through ancestrally inspired real food products.”

Moring launched Hunter & Gather with partner Jeff Webster in 2017 and makes a range of products across multiple categories, including oils, sauces, supplements and collagen, using all-natural ingredients free from artificial preservatives, refined sugars and grains and seed oils.

Last month, the B Corp business featured in the latest Alantra Fast 50, ranking in the top 20 with two-year average growth of 52%.

Hunter & Gather, which is also stocked by Ocado, Holland Barrett, Whole Foods and Amazon, has generated combined revenues of £18m since launching and is forecasting sales of more than £11m in 2024.

The funding round follows Hunter & Gather appointing its first finance and sales directors last month.

A spokesman from lead investor Black Investment Holdings added: “We are excited to be supporting the growth that Hunter & Gather is delivering.

“For us it’s as much about the ‘how’ as it is the ‘what’ – the team are methodical and super disciplined in their execution, but at an impressive cadence, and with an unrelenting focus on the company’s purpose.

“Hunter & Gather has seen incredible growth in 2024, achieving 72% growth in Q1 versus last year, launching into Tesco on the accelerator programme into over 262 stores and securing increased product distribution in Ocado.”