Gousto raises £25m from Perwyn and BGF to accelerate fulfilment centre expansion
The Series F round was backed by Perwyn and BGF, valuing the recipe box firm at over US$1bn.
Gousto provides a recipe box delivery service in the UK, offering weekly rotating menus powered by automated technology and data insights. The company holds B Corp certification and focuses on reducing food waste.
Gousto has secured £25m in a Series F funding round from existing backers Perwyn and BGF, pushing its valuation past the US$1bn threshold to achieve unicorn status. The capital will be deployed to accelerate the launch of new automated fulfilment centres and create one thousand new jobs as consumer demand continues to rise.
The business has experienced rapid expansion, doubling monthly meal deliveries in the first half of the year and reporting that half-year revenues for 2020 already exceeded the total figures for 2019. Having achieved profitability in late 2019, Gousto plans to use the new investment to triple its overall capacity by 2022 while maintaining its technological edge in the meal kit sector.
From the founder
"Achieving tech unicorn status and joining the ranks of those elite companies that have attained a billion dollar valuation is a proud moment for the entire Gousto team and all of our shareholders but we are still only just getting started. The market opportunity ahead of us is vast, as changes in consumer behaviour drive permanent change through the entire grocery market."
Timo Boldt
Founder & CEO at Gousto
Investor perspective
"We continue to be excited about the sheer size of the market opportunity and impressed by the management team’s ability to deliver on its plans and navigate the complex challenges of 2020. Gousto’s superior technology and scale underpin its winning customer proposition and support its continued leadership of this fast growing and profitable sector."
Andrew Wynn
Founder and Managing Partner, Perwyn
Use of funds
- 01Grow the team
- 02Scale operations
- 03Build out infrastructure
