Food delivery business Gousto has raised £500,000 through the Angel CoFund and private investors.
The fundraising round follows an injection of more than £1 million from leading food industry figures secured in August.
The company had previously been turned down for investment earlier this year on Dragons’ Den.
Gousto, founded by Timo Schmidt and James Carter, delivers organic, local produce in exact portion sizes for specific recipes, which the owners claim eliminates any waste and encourages healthier, delicious and convenient home-cooked dining.
The latest fundraising round will be used to further improve the customer experience. With growing customer numbers, Gousto will invest in a more flexible delivery service, the company says.
More on the Angel CoFund:
CEO and co-founder Timo Schmidt comments, ‘At Gousto we want to share our vision of making it easy to cook delicious and healthy meals at home. This latest round of funding means we can both improve and grow our service and we’re delighted that our new investors are showing so much confidence in us.’
George Whitehead, chairman of the Angel CoFund adds, ‘Gousto is a business with major potential that needs upfront investment to enable it to really take off.
‘The Angel CoFund is set up for exactly this kind of business – we want to get cash to good businesses that can then scale fast.’
Whitehead says that the Dragons missed out on the investment in part because they didn’t have the Angel CoFund’s advantage of spending the time to get to know the business, team and leading industry co-investors.
He adds, ‘A part of me looks forward to the Dragons wincing at their missed opportunity when they see Gousto continue to grow from strength to strength!’