Total amount raised
$675.7 Million
Latest funding date
03/01/2023
Location
Gousto has successfully raised funding over 17 rounds, with the latest being a Debt Financing round. The company is backed by 18 investors, including Grosvenor Food & AgTech and Perwyn.
Keep reading to explore the intricacies of Gousto's fundraising journey and the investors backing this innovative platform.
What Is Gousto?
Gousto, based in London, England, is a private company specializing in online meal-kit manufacturing and retail. Founded in an unspecified year, the company leverages AI and automation to offer a wide range of personalized meal options. Gousto operates within several industries, including AI, e-commerce, food and beverage, food delivery, food processing, and subscription services.
With a workforce of 251-500 employees, Gousto provides over 175 recipes each week, catering to various dietary preferences. The company emphasizes sustainability and quality, sourcing 100% British fresh meat from trusted UK farms. Customers can enjoy the flexibility of skipping or canceling their subscriptions anytime, making it a convenient choice for many.
How Much Funding Has Gousto Raised?
- Debt Financing
- Amount Raised: USD 24,000,000
- Date: March 2023
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To navigate volatile economic conditions.
- Series Unknown
- Amount Raised: USD 60,000,000
- Date: February 2023
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support growth and operational scaling.
- Secondary Market
- Amount Raised: USD 230,000,000
- Date: February 2022
- Lead Investors: SoftBank Vision Fund
- Valuation at Round: USD 1,700,000,000
- Motivation Behind the Round: To allow some investors to reduce their holdings.
- Debt Financing
- Amount Raised: USD 44,400,000
- Date: January 2022
- Lead Investors: Barclays Corporate Banking, HSBC
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To shore up the company's balance sheet.
- Series Unknown
- Amount Raised: USD 88,800,000
- Date: January 2022
- Lead Investors: SoftBank Vision Fund
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To cement the company's "unicorn" status.
- Series F
- Amount Raised: USD 30,000,000
- Date: November 2020
- Lead Investors: BGF Ventures, Perwyn
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance AI and automation capabilities.
- Series G
- Amount Raised: USD 39,600,000
- Date: April 2020
- Lead Investors: Perwyn
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand market reach.
- Series F
- Amount Raised: USD 36,000,000
- Date: July 2019
- Lead Investors: Perwyn
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To improve product offerings.
- Series E
- Amount Raised: USD 21,600,000
- Date: January 2019
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations.
- Series D
- Amount Raised: USD 34,200,000
- Date: March 2018
- Lead Investors: Hargreave Hale
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance AI and automation capabilities.
Total Amount Raised: USD 604,600,000. Current Valuation: USD 300,000,000.
Key Investors
- SoftBank Vision Fund 2
- Details: SoftBank Vision Fund 2 is a large investment fund managed by SoftBank, focusing on technology-driven companies. It is known for making significant investments in high-growth tech companies.
- Investment Focus Areas: Technology-driven companies, high growth potential.
- Notable Investments: Uber, WeWork, DoorDash.
- Unilever's Ventures Arm
- Details: The investment arm of Unilever, a multinational consumer goods company. It focuses on investing in innovative companies that align with Unilever's business areas.
- Investment Focus Areas: Consumer goods, health, sustainability.
- Notable Investments: Olly Nutrition.
- Fidelity International
- Details: Fidelity International is a global investment management company. It provides investment solutions and retirement expertise to institutions and individuals.
- Investment Focus Areas: Technology, healthcare, consumer goods.
- Notable Investments: Alibaba, Amazon, Tesla.
- Railpen
- Details: Railpen is the investment manager for the railways pension scheme in the UK. It manages the pension assets of the railway industry.
- Investment Focus Areas: Infrastructure, real estate, private equity.
- Notable Investments: Infrastructure projects, real estate developments.
- Grosvenor Food & AgTech
- Details: Grosvenor Food & AgTech is an investment arm of the Duke of Westminster's business portfolio. It focuses on investments in the food and agriculture technology sectors.
- Investment Focus Areas: Food technology, agriculture technology, sustainability.
- Notable Investments: Innovative food and agriculture technology startups.
What's Next for Gousto?
Gousto's future is brimming with opportunities, starting with its recent £50 million funding and an additional £20 million in debt financing. These funds will help the company expand its workforce and open new distribution warehouses, aiming to become the UK's most-loved way to eat dinner. The attainment of B Corporation status also positions Gousto to attract ethically-minded consumers and investors.
Future fundraising opportunities are likely as Gousto navigates volatile economic conditions. A stock market flotation is a potential long-term goal, although it is not expected for several years. The company must address governance issues and restore investor confidence to attract future investments.
However, challenges loom on the horizon. Gousto faces corporate governance issues and a significant drop in valuation, which has caused dissatisfaction among shareholders. The company has also had to slash its workforce by 14% and reduce its ambitious hiring plans. Navigating these challenges will be crucial for Gousto's sustained growth and success.
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