TALA, the activewear brand founded by Grace Beverley, is set to announce a £5 million funding increase this week. The funding comes from a group of prominent investors, which includes one of the initial supporters of the womenswear brand Me+Em.
Founded by Ms.Grace Beverley in 2019 and with 45 employees, TALA has received a significant investment from its existing shareholders Pembroke VCT, Venrex, and Active Partners. Ms. Beverley, a leading British influencer, has amassed nearly half a million followers on TALA’s Instagram, demonstrating the power of social media in modern consumer brand building.
The fresh funding will support TALA’s global growth, starting with expansion into the US, where the brand has already gained substantial customer and social media attention. Additionally, TALA plans to explore opportunities for establishing its first physical retail presence on the high street.
Ms. Beverley said, “an incredibly exciting milestone in TALA’s growth. TALA remains proudly women-founded & women-run – the large majority of our leadership positions and board positions are held by women, something I am immensely proud of that sets us apart from most women’s businesses. Just 2% of VC [venture capital] funding in the UK goes to female-founded businesses, so I don’t underestimate how statistically difficult it is to reach this stage of a business lifecycle. Our customers are at the heart of everything we do and every decision we make, and I’m thrilled to continue to serve them well-thought-through wardrobe favourites and problem-solving pieces for women, by women.”
The £5 million fundraising comes at a time of significant growth in the athleisure market. According to Precedence Research, the global market surpassed $360 billion in value last year and is expected to achieve $880 billion in sales by 2033.
Morgan Fowles, TALA’s chief executive, said, “We experienced first-hand that raising three years ago was a powerful unlock to growth, allowing us to scale faster, take calculated risks and benefit from a network and shared resources across the portfolio companies. We are fortunate that our results have meant we have the opportunity to raise funding again, with such strategically aligned investors, and with the incremental opportunities it will afford.”
Pembroke VCT was one of the investors in Me+Em, the fashion brand that gained considerable attention recently when Victoria Starmer, wife of the new prime minister, wore one of its dresses as they arrived in Downing Street the morning after the general election.
Andrew Wolfson, Pembroke VCT’s chief executive, said the new funding injection “reaffirms our confidence in the brand’s innovative approach and strong market appeal. Grace Beverley, Morgan Fowles and the team have a unique ability to tap into their consumer base, leveraging organic channels to expand TALA’s presence and reinforce its core values. This investment will enable TALA to accelerate its expansion, enhance its product range, and strengthen its global market position. The global athleisure market is ripe for disruption from bold, young entrepreneurial brands, and TALA is well-positioned to lead the way.”