A nutrition brand backed by the likes of Jake Humphrey and Michael Vaughan is seeking to raise an extra £1.5m as it eyes turning a profit for the first time in 2026.
London-based Mission was founded by chief executive Tom Whittle in 2017 and is aiming to use the extra financing to launch its new energy drink in the UK.
It is understood that a decision on how the company will seek to raise the additional funds will be made in the coming weeks.
Mission already has deals with the likes of Nike, Team GB, the England football team, Liverpool FC, England Rugby, England Cricket and Brighton & Hove Albion FC.
It is also currently in negotiations with Holland & Barrett over a possible retail launch this year.
The latest fund raise comes after Mission secured £1.6m in March 2021 in a round led by former and current executives at BrewDog, Cadbury, HelloFresh, Allplants, Graze, KP Snacks and Tails.com.
The fund raise also saw former Test skipper Michael Vaughan and England cricketer Heather Knight invest for the first time. Jake Humphrey has been a long-time investor in the brand.
According to Mission’s pitch deck, it intends to launch on Holland & Barrett’s website during the first quarter of 2024 and then in its stores during the third quarter.
Its ready-to-drink product will also go on sale in the coming weeks while a wider UK retail launch during the second quarter of 2025.
An EU launch is planned for the second quarter of 2026 and an expansion into the US is scheduled for a year later.
For 2024, Mission is expecting to report a revenue of £1.5m which it is forecasting will rise to £3.5m in 2025, £6.9m in 2026, £10.1m in 2027 and £15.7m in 2028.
Also for 2024, the business is forecasting an EBITDA loss of £781,811 and another loss of £738,191 for 2025.
However, Mission is expecting to turn a profit for the first time in 2026 with an EBITDA of £16,028 which it is saying will increase to £872,973 in 2027 and to £3.3m in 2028.
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