Tonic Health

Tonic Health

Tonic Health is closing in on a £500k fundraising target as the natural supplements start-up returns to the crowd for follow-on investment.

The brand is almost 90% funded on the Seedrs platform, with more than 100 investors joining the round so far at the time of publishing.

Tonic Health plans to use the money to support a launch in the US with a major retailer, as well as building its team, boosting brand awareness and developing its first hay fever product.

The business previously raised more than £440k on the Seeders platform in early 2022, beating a £200k target.

It takes investment in Tonic Health to about £1.5m since launching in 2019, with private backers including New Look founder Tom Singh, former Unilever president Diego Bevilacqu and All About Food founder Phil Lynas.

Tonic first secured a listing for its range of all-natural, high-dose vitamin drinks following a trial on the retailer’s Future Brands scheme. It is now also listed with Tesco, Holland & Barrett, WH Smith and Ocado, as well as pharmacies, such as Victoria Health.

The brand is set to launch four new lines this year in the UK and US, expanding into additional categories such as kids supplements.

Since the last crowdfunding round in January 2022, Tonic has hit £1m in annual revenue run rate and recorded its first profitable month in at the start of 2023 with its biggest-ever month across all channels – retail, D2C and Amazon – and more than £110k in sales.