How the fund has backed Gousto
Gousto is a recipe box delivery company providing customers with ingredients to cook healthy and well-balanced meals at home.
Customers choose from a wide selection of chef designed recipes online and receive the ingredients in the correct proportions together with a step-by-step recipe card, all delivered to their door. Gousto sources ingredients which are organic, local and seasonal as much as possible, and what’s more there is no food waste.
The Angel CoFund first invested in June 2013, alongside a syndicate of food industry insiders. Leading the diligence for the CoFund was MoreThanAngels, a team of food industry angels, with a thorough understanding of industry dynamics who were able to present a compelling investment case for the market, the product and the team. The appointment of one of the syndicate to the Board added invaluable packaging, sourcing and logistics skills added further support to the investment case.
The CoFund has also participated in further investment rounds and has since been joined by MMC, Unilever Ventures and most recently BGF Ventures.
Gousto is one of the UK’s fastest growing technology-based companies. In November 2015 it delivered more than 300,000 meals to homes throughout the UK. Earlier this year, the business launched a free iOS app where customers can plan, order and arrange delivery of meals.
The latest investment round will allow the company to 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.
Timo Schmidt, CEO and co-founder of Gousto, commented “This is a really exciting time for Gousto as subscriptions continue to climb. I am extremely pleased to have the continued backing of our early investors, and to welcome BGF Ventures on board.”