Perwyn, BGF, MMC Ventures and Joe Wicks have led a GBP 33 million funding round into recipe box company Gousto. The additional funding takes the total funds raised by Gousto to over GBP130 million in the last eight years. The company aims to have put over 400 million meals on tables by 2025.
The funding will be used for harnessing technology to further propel its proposition, with a particular focus on expanding its 100-strong tech team in London, accelerating innovation – including Next Day Delivery, customisation and scaling up its fulfilment capacity.
Gousto has seen revenue grow by 70 percent year on year, with more than 4 million meals delivered to 380,000 UK households monthly, according to the company.
Due to coronavirus, most of the developed world will shop for their groceries online; a forced adoption which is likely to accelerate structural change in the market, Gousto said.
Gousto is currently engaging with DEFRA (Department for Environment, Food and Rural Affairs) on a Coronavirus response effort, implementing contactless delivery for customers and donating 6,000 meals to The Trussell Trust foodbank network.
Timo Boldt, CEO and founder, said: “We continue to be laser-focused on our vision to become the UK’s most-loved way to eat dinner. This additional investment is not only a validation of our track record, but it is also an endorsement of our strategic vision of the future which is rooted in investing in innovative technology to transform the way we search for, shop for, and cook our food.
“We continue to be impressed by Gousto and its dedication to its customers,” said Andrew Wynn, founder and managing partner at Perwyn. “The business has adapted quickly to continue providing an essential service to so many. This reaffirms the decision we took far before COVID-19, that we’re investing in the right people and a business set for even greater success.”