Gousto raises £9m with backing of Business Growth Fund and MMC Ventures

Angel Co-Fund and Unilever Ventures also contribute as recipe box delivery company takes total funding to £20m

Founded in 2012, Gousto delivers ingredients boxes for specific, suggested recipes. This latest investment includes £3m from BGF Ventures – the first investment for the £200m fund since it opened its doors to early stage technology companies in the autumn of this year – alongside existing investors MMC Ventures, Unilever Ventures and the Angel Co-Fund.

TV presenter Andi Peters is also an investor, having been introduced to Gousto by his friend, star rugby player Jonny May, who converted him into a loyal customer after raving about the service.

Gousto is one of the UK’s fastest growing technology-based companies. Last month, it delivered more than 300,000 meals to homes throughout the UK, up nearly six times on the same time last year. Earlier this year, the business launched a free iOS app where customers can plan, order and arrange delivery of meals.

With the additional funding, Gousto will strengthen its team of chefs and nutritionists, broaden its sales and marketing efforts to reach even more customers, and continue to introduce a greater choice of meal and delivery options.

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Gousto sends fresh ingredients and chef-designed recipes – which can be prepared and cooked in just 30 minutes – straight to the door of time-poor Brits. Together with step-by-step recipe cards, Gousto creates ten new meals every week.

Simon Calver, a partner in BGF Ventures, will join the board of the company. Simon is the former CEO of LOVEFiLM, one of the UK’s most successful online subscription based businesses.

Gousto CEO Timo Schmidt said the fund will be put towards “driving amazing product improvements in 2016”.

“With the help of the team and our farmers, we have built a scalable platform that offers truly incredible value to customers,” he continued.

“I am pleased to have the continued backing of our early investors, and to welcome BGF Ventures on board. Simon Calver’s experience of running LOVEFiLM as its CEO will be invaluable and I look forward to working with him closely.”

Jon Coker, investment Partner at MMC Ventures, praised the Gousto leadership team for the way they have “grown the business incredibly quickly while also maintaining their focus on efficiency”.

“We are pleased to welcome Simon Calver and BGF Ventures to the business – and are excited by what this round of funding will allow Gousto to achieve,” he said.

Further reading: Artsper.com raises €1.2 in funding round

Praseeda Nair

Praseeda Nair

Praseeda was Editor for GrowthBusiness.co.uk from 2016 to 2018.

Related Topics

Early Stage Funding