A nutrition brand backed by the likes of Jake Humphrey and Michael Vaughan is trying to raise an extra £1.5m as it aims to turn a profit for the first time in 2026.
London-based Mission was founded by CEO Tom Whittle in 2017 and aims to use the extra funding to launch its new energy drink in the UK.
It is understood that a decision on how the company will try to raise the additional funds will be made in the coming weeks.
Mission already has deals with the likes of Nike, Team GB, England Football Team, Liverpool FC, England Rugby, England Cricket and Brighton & Hove Albion FC.
It is also currently in negotiations with Holland & Barrett for a possible retail launch this year.
The latest fundraising 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-term investor in the brand.
According to Mission’s pitch deck, it intends to launch on Holland & Barrett’s website in the first quarter of 2024 and then in its stores in the third quarter.
Its ready-to-drink product will also go on sale in the coming weeks while a wider UK retail launch in the second quarter of 2025.
An EU launch is planned for the second quarter of 2026 and an expansion to the US is planned for a year later.
For 2024, Mission expects to report revenue of £1.5m which it forecasts 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 forecasts an EBITDA loss of £781,811 and a further loss of £738,191 for 2025.
However, Mission expects to turn a profit for the first time in 2026 with EBITDA of £16,028, which it says will increase to £872,973 in 2027 and to £3.3m in 2028.
