Gousto secures £33m investment, plans 400 new jobs
UK recipe box delivery company Gousto has raised an additional £33m in funding.
The round was led by investors Perwyn, BGF, MMC Ventures and celebrity fitness personality Joe Wicks.
This investment takes the total funds raised by Gousto to over £130m in the last eight years.
The firm reports that it is now trading profitably and has seen revenue grow by 70% YoY (Q1), with over 4 million meals delivered to 380,000 UK households monthly.
The firm claims to be the only recipe box company with an automated factory. It puts this technology, and its implementation of AI– as part of the reason for its projects 400 million meal deliveries by 2025.
This investment will be used to invest further in this technology, with a focus on expanding its 100-strong tech team in London and introducing including next day delivery, customisation and scaling up its fulfilment capacity.
Hiring has already started for around 100 roles at the company’s existing facility in Spalding, Lincolnshire and for its second fulfilment centre opening later this year.
The firm plans to fill over 400 roles within the next four months across teams in Spalding and its HQ in London, with an aim of increasing headcount by over 700 by 2022.
Gousto is currently engaging with DEFRA (Department for Environment, Food and Rural Affairs) on a response effort for the vulnerable in regards to coronavirus.
It has already implemented contactless delivery for customers and donated the equivalent of 6,000 meals to The Trussell Trust foodbank network and to the homeless charity, Shelter.
Timo Boldt, CEO and Founder, said: “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.
“In these challenging times, we want to continue offering people more choice and especially more convenience. We will maintain our close relationships with the government and other charitable partners to ensure those already struggling don’t see their situation worsen.”