Supplements challenger Tonic Health has completed a £250k secondary share sale to give early backers a return on their investment.
New investors joined the business in the process, run on the Republic crowdfunding platform, at the same £15.5m valuation set during last year’s £2.8m Series A round.
The secondary sale involved four early investors, who each sold less than half of their holdings while retaining a significant stake in the business.
Tonic Health founder Sunna van Kampen did not sell any shares as part of the transaction.
“These investors backed Tonic right at the start of the journey, and after five years of support it felt only fair to give them the opportunity to realise a small portion of their investment, while continuing to be part of what we’re building,” said van Kampen, who launched the business in 2019.
“Whilst this was a secondary and the funds don’t go directly onto the balance sheet, the demand has been incredible. The round sold out ahead of time, and it’s been a great moment to welcome new investors into the Tonic community.”
Tonic now has more than 10,000 distribution points, with listings for its immunity effervescent tablets and gummies for adults and kids across the major UK retailers. Two new product lines have been launched into Tesco this year.
Its revenue run-rate hit £9.5m, based on recent trading, and is tracking for £12m, with the business on course to double in size again over the next 12 months.
Momentum is being driven by continued product innovation and growth across all channels.
Van Kampen has also built a large social media presence for his videos highlighting the health properties of food and drink brands in supermarkets.
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