UK meal-kit company, Gousto, has raised a further GBP28.5 million in additional equity funding from new and existing investors Hargreave Hale, Angel CoFund, MMC Ventures, and BGF Ventures, bringing the total amount raised to GBP56.5 million.
The investment shows enormous progress for the company, a first-mover in the highly competitive and fast-growing meal-kit industry, which is predicted to generate USD10 billion globally by 2020 and is already worth an estimated USD3.5 billion in the US.
Founded in 2012, Gousto has seen revenues rocket by nearly 100 per cent in 2017, with the company currently delivering over one million meals monthly.
A data driven enterprise, Gousto presents the world-leading meal-kit proposition. It offers the most choice (29 weekly recipes across nine different ranges), most delivery options (every day of the week), lowest price (from GBP2.98 per meal), shortest lead time (three days) and 0 per cent household food waste.
Accelerating its proposition via automation, with limited cost and logistical challenges, Gousto is transforming the way families eat at home across the country. Prioritising product investment to ensure continued growth, by 2025 Gousto will help UK families serve 400 million nutritious home-cooked meals and extend its 0% household food waste to three million more homes.
Timo Boldt, CEO and Founder of Gousto, says: “Our commitment to technology has seen us create a leading value proposition, driving customer satisfaction levels 56 per cent higher than the UK’s leading supermarket. Over the next year, we’ll win even more of the 1 billion meals eaten in the UK, by prioritising investment in AI and automation to ‘wow’ customers.
“New funding allows us to continue transforming the grocery market and supporting the British economy with the creation of new jobs, with our headcount expected to increase two-fold over the next few years.”
Oliver Bedford, co-manager of the Hargreave Hale AIM VCTs, says: “It was clear from our first meeting that the management of Gousto have brought leadership and innovation to a mature industry that will have a lasting impact on the way we purchase and consume food at home. We are particularly impressed by their progress in a short period of time and excited about their plans for further service enhancements that will continue to improve the consumer experience.”
Empowering the UK to eat better, whilst pioneering food waste reduction through cutting edge technology, UK-based Gousto has proven its excellence in making home cooking simple for families. It directly delivers fresh, wholesome ingredients, plus foolproof recipes, seven days a week.
