Total amount raised
$675.7 Millions
Latest funding date
03/01/2023
Location
Gousto has successfully raised significant funding through multiple rounds, with its latest being debt financing. The company is backed by 18 investors, including notable names like Grosvenor Food & AgTech and Perwyn.
Keep reading to explore the intricacies of Gousto's fundraising journey and the investors backing this innovative meal-kit platform.
What Is Gousto?
Gousto, founded in 2012 by James Carter and Timo Boldt, is an online meal-kit manufacturer and retailer based in London, England. The company specializes in delivering pre-measured ingredients and recipes to customers' doors, offering a variety of meal options including vegetarian and vegan choices. With a workforce of 251-500 employees, Gousto aims to make home cooking effortless and sustainable.
How Much Funding Has Gousto Raised?
- Debt Financing
- Amount Raised: $24M
- Date: March 2023
- Lead Investors: Not publicly disclosed
- Valuation at Round: Less than $300M
- Motivation Behind the Round: To shore up Gousto's balance sheet amid volatile economic conditions.
- Venture Round
- Amount Raised: $60M
- Date: February 2023
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To navigate through the technology downturn.
- Secondary Market
- Amount Raised: $230M
- Date: February 2022
- Lead Investors: SoftBank Vision Fund
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To allow some investors to reduce their holdings in a secondary share sale.
- Debt Financing
- Amount Raised: $45M
- Date: January 2022
- Lead Investors: Barclays Corporate Banking, HSBC
- Valuation at Round: $1.7B
- Motivation Behind the Round: To cement the company's "unicorn" status.
- Venture Round
- Amount Raised: $90M
- Date: January 2022
- Lead Investors: SoftBank Vision Fund
- Valuation at Round: $1.7B
- Motivation Behind the Round: To cement the company's "unicorn" status.
- Series F
- Amount Raised: $31M
- Date: November 2020
- Lead Investors: BGF Ventures, Perwyn
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand operations and scale the business.
- Series G
- Amount Raised: $41M
- Date: April 2020
- Lead Investors: Perwyn
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To meet increased demand during the pandemic.
- Series F
- Amount Raised: $37M
- Date: July 2019
- Lead Investors: Perwyn
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand market reach and product offerings.
- Series E
- Amount Raised: $22M
- Date: January 2019
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance technology and operational capabilities.
- Series D
- Amount Raised: $36M
- Date: March 2018
- Lead Investors: Hargreave Hale
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate growth and innovation.
Gousto has raised a total of $636M. The current valuation is less than $300M.
Key Investors
- SoftBank Vision Fund 2
- Details: SoftBank Vision Fund 2 is a large investment fund known for its significant investments in technology companies. It is part of the SoftBank Group, a multinational conglomerate holding company.
- Investment Focus Areas: Technology, Artificial Intelligence, Robotics
- Notable Investments: Uber, WeWork, DoorDash
- Unilever's Ventures Arm
- Details: Unilever's ventures arm is the investment division of Unilever, focusing on innovative and sustainable companies. It aims to support startups that align with Unilever's mission and values.
- Investment Focus Areas: Consumer Goods, Sustainability, Health and Wellness
- Notable Investments: Olly, Seventh Generation, Dollar Shave Club
- Fidelity International
- Details: Fidelity International is a global investment management company that offers a range of financial services. It manages assets for clients around the world, including individuals, institutions, and financial advisors.
- Investment Focus Areas: Technology, Healthcare, Consumer Goods
- Notable Investments: Alibaba, Tesla, Amazon
- Railpen
- Details: Railpen is the investment arm of the railways pension scheme in the UK. It manages the pension assets of the railway industry, focusing on long-term, stable returns.
- Investment Focus Areas: Infrastructure, Real Estate, Fixed Income
- Notable Investments: Heathrow Airport, Thames Water, Associated British Ports
- Grosvenor Food & AgTech
- Details: Grosvenor Food & AgTech is part of the Duke of Westminster's business portfolio, focusing on investments in food and agricultural technology. It aims to support innovations that improve food production and sustainability.
- Investment Focus Areas: Food Production, Agricultural Technology, Sustainability
- Notable Investments: Not publicly disclosed
What's Next for Gousto?
Gousto stands at a crossroads with significant opportunities for growth. The meal-kit delivery market continues to expand, and Gousto's B Corporation status positions it well to attract ethically-minded consumers. The company has secured substantial funding, including £50 million in new funding and £20 million in debt financing, to navigate economic volatility and support its expansion plans.
Future fundraising opportunities remain on the horizon, with potential for additional capital raises to fuel growth and possibly a stock market flotation in the long term. However, Gousto faces challenges, including corporate governance issues and maintaining investor confidence after a significant drop in valuation. Navigating these hurdles will be crucial for the company's continued success.
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