Posted on July 15, 2019 by staff

Subscription recipe firm Gousto lands £30m funding


UK recipe box company Gousto has announced an additional £30m funding round, led by Perwyn.

The investment takes the total funds raised by the London-based company to over £100m.

Gousto supplies its subscribers with recipe kit boxes which include ready-measured, fresh ingredients and easily followed recipes.

The firm, founded in 2012, will use the investment to evolve its technology proposition, tapping in to what it claims is a £1bn UK home-cooked meal market.

Gousto has a fully automated production line, powered by data science, and plans to hire 140 more technology employees by 2022, building on its current 80-strong London-based team.

It will also continue to invest in automation to enable more orders to be made via AI.

“Our goal has always been to become the UK’s best loved way to eat dinner,” said Timo Boldt, CEO and Founder of Gousto.

“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. People 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.”

Perwyn, a family-backed private equity investment firm, joins existing investors including BGF Ventures, MMC Ventures, Canaccord Genuity, Unilever Ventures and Joe Wicks.

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.”