Gousto, the recipe box delivery company, has closed a GBP5m (USD8.3m) Series A round, led by Unilever Ventures with existing investor MMC Ventures.
Each week Gusto’s customers select three of ten chef-developed recipes. Gousto then delivers a box to the customer’s door with all the ingredients needed to cook the meals from scratch.
Gousto will now be able to increase investment in innovation and product development.
Jan Harley, director at Unilever Ventures, brings to the board his experience as a founding member of the venture arm of Unilever. He will join existing board members Jon Coker of MMC Ventures and Ian West, non-executive director at TalkTalk, Naked Wines and Pact Coffee.
Timo Schmidt, CEO and co-founder of Gousto, says: “The UK grocery market is worth GBP200bn (USD330bn), and there has been a seismic shift from offline to online. Our extreme focus on quality and the fact that customer can choose the recipes they love, make Gousto completely unique. At GBP4-5 per meal including delivery this is a phenomenal value proposition that customers love. The funding is amazing news for customers as it will be entirely used to make their lives even easier and better.”
Harley says: “Gousto has a great combination – a brilliant consumer proposition and a strong and innovative management team. Consumers are looking for great tasting, healthy, and convenient meal solutions and are increasingly looking online. We anticipate that the market will grow very strongly over the next few years and see Gousto as a potential market leader.”
