Recipe box delivery firm Gousto has received £33 million in a funding round led by Perwyn, BGF, MMC Ventures and health influencer Joe Wicks, which will support the company’s growth strategy.
Founded in 2012, Gousto has now raised approximately £130 million in funding over the last eight years. The company claims that its Q1 revenue has grown 70% year-on-year, and that it now delivers over 4 million meals every month to households in the UK.
According to a statement from the company, this latest investment will support the company’s expansion efforts as it will allow Gousto to significantly increase its workforce.
Gousto plans to fill over 400 roles within the next four months across its production and distribution facility in Spalding, Lincolnshire and its HQ in London, with a particular focus on expanding its 100-strong tech team.
The company is also opening a second fulfilment centre later this year, and aims to hire over 700 new employees by 2022.
Meal kits and recipe boxes were predicted to have a major impact on the grocery shopping habits of consumers, and Gousto claims that the value of the UK recipe box market was expected to exceed £1.5 billion by 2022.
The coronavirus pandemic has accelerated the growth of the online grocery market, as many consumers are now opting to purchase groceries online for the first time, a shift which Gousto claims could “accelerate structural change in the market by many years”.
Timo Boldt, CEO and founder of Gousto, 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.
“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.”
