Recipe box company Gousto has secured an additional GBP30 million funding round, led by Perwyn. The investment takes the total funds raised by Gousto to over GBP100 million.
With the UK recipe box market expected to exceed GBP1.5 billion by 2022, Gousto is in pole position to take advantage and the additional funding will accelerate its investment into its customer obsession. Perwyn, a family-backed private equity investment firm, joins existing investors including BGF Ventures, MMC Ventures, Canaccord Genuity, Unilever Ventures and Joe Wicks.
Gousto 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 (from GBP2.98 per meal), shortest lead times (three days) and 0 per cent household food waste.
To build on this success, Gousto plans to expand its technology footprint by hiring over 100 technology employees by 2022, building on its current 80-strong London-based team. 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, says: “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, says: “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.”
