Food Delivery Service Gousto Turns to Corporate Venture for Series A

September 17, 2014

Unilever Ventures has joined existing backer MMC in supporting the growth efforts of food-based start-up Gousto. 

Set up in 2012 by Timo Schmidt and James Carter, Gousto provides a service whereby fresh food boxes containing ingredients and recipes are delivered to customers’ doors.

Having taken their business onto the BBC’s Dragons’ Den in August 2013 the duo failed to secure investment after revealing that they were already in advanced negotiations with angel investors. Shortly after an angel investment from industry experts was announced, after which the start-up then closed two further rounds including a £1.2 million deal led by MMC Ventures in December.

Unilever Ventures, the venture investment division of consumer goods company Unilever, has now stepped in as a new investor. The £5 million fundraising it has led will go towards investing in innovation and product development alongside bettering the customer experience.

Read the full article on growthbusiness.co.uk website here