Meal-kit company Gousto raises US$38m funding to boost offering

UK – UK meal-kit company, Gousto has secured US$37.7 million (£30 million) in a new funding round led by a family-backed private equity investment firm, Perwyn.

Perwyn joins other investors including Unilever Ventures, BGF Ventures, MMC Ventures, Canaccord Genuity and British fitness coach and television presenter Joe Wicks.

The financing round which brings Gousto’s total funding to more than £100 million (US$125.6 million) will help the cook-at-home meal kit service boost its technology proposition as well as its home-cooked meals offering.

According to the firm, the capital will be invested into automation and artificial intelligence (AI), furthering its tech footprint in the recipe box category.

The investment is expected to create 140 additional jobs over the next three years.

“Today’s funding from Perwyn is testament to the complete confidence in our ability to do this,” said Timo Boldt, chief executive and Gousto’s founder.

“In the busiest of worlds, consumer shopping behaviours are rapidly changing.

“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.”

Gousto, which recently launched a customer-facing AI recipe recommendation tool operates automated production, powered by data science.

They offer customers with advanced value proposition including over 40 weekly recipes, more delivery options, low price and short lead times and a 0% household food waste.

Gousto plans to expand its technology footprint by hiring over 140 technology employees by 2022, building on its current 80-strong London-based team.

“We are delighted to be making this investment and joining the exciting journey that Gousto is on,” said Andrew Wynn, Founder and Managing Partner, Perwyn.

“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.”

In January, Gousto secured GBP18 million (US$22.43 million) with contributions from Unilever Ventures, Hargreave Hale, BGF Ventures, MMC Ventures, and Angel CoFund.

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