Subscription business Gousto secures £30m funding
UK’s recipe box company Gousto has today announced it has secured an additional £30m funding round, led by Perwyn. Family-backed private equity investment firm Perwyn joins existing investors including BGF Ventures, MMC Ventures, Canaccord Genuity, Unilever Ventures and Joe Wicks.
The investment takes the total funds raised by Gousto to over £100m.
With the UK recipe box market expected to exceed £1.5 billion by 2022, Gousto is in a good position to take advantage and the additional funding will accelerate its investment into its customer obsession. The meal subscription service will use the investment to evolve its technology proposition, so it can continue to lead the recipe box category and grow its share of the 1 billion home-cooked meals eaten in the UK weekly.
Gousto is the only company globally in the industry to have automated production, powered by data science. This in turn enables Gousto to offer customers’ by far the most advanced value proposition: the most choice (over 40 weekly recipes), most delivery options (seven days a week), lowest price, shortest lead times and 0% household food waste.
It will also continue to invest significantly in automation to enable more orders to be made via Artificial Intelligence.
Timo Boldt, CEO and Founder of Gousto, said: “Our vision has always been to be the UK’s best loved way to eat dinner. Today’s funding from Perwyn is testament to the complete confidence in our ability to do this. In the busiest of worlds, consumer shopping behaviours are rapidly changing. Busy families increasingly have less time for the “big shop”, but still want to cook differing, quality meals and maintain a healthy, balanced diet.”
“We are relishing the next stage in Gousto’s evolution, investing in innovative technology to allow us to offer the most choice, the most varied delivery options, the best quality meals that arrive in the shortest lead time, for the lowest price.”
Andrew Wynn, Founder and Managing Partner, Perwyn added: “We are delighted to be making this investment and joining the exciting journey that Gousto is on. We have been highly impressed with Timo and the team’s entrepreneurial drive and demonstrated success to date.
“We believe the company will go from strength to strength by bringing new and innovative ways for consumers to prepare and eat healthy, fresh and delicious meals at home.”