Gousto secures £172.3m investment

By Gwen Ridler contact

- Last updated on GMT

Gousto has secured more than £200m through fundraising over the past two months
Gousto has secured more than £200m through fundraising over the past two months

Related tags: fresh food

Recipe box firm Gousto welcomed three additional blue-chip institutional investors onto its register after securing $230m (£172.3m) of investment led by SoftBank Vision Fund 2 last month.

This Secondary Placing followed a successful fundraise of $150m (£112.3m) in primary capital last month, which included a $100m (£74.9m) equity investment from SoftBank.  

Gousto also welcomed Fidelity International, Grosvenor Food & AgTech (formerly Wheatsheaf Group) and Railpen. 

The company hoped to leverage the expertise of these new investors to improve sustainability throughout the business, incorporate new tech and bolster its environmentally friendly credentials.  

New shareholders  

Timo Boldt, founder and chief executive of Gousto, said: “I’m thrilled that following on from their initial investment, Softbank has increased its stake, which speaks volumes for where they see the business heading. I’m also delighted to welcome new shareholders to our investor base.  

“Our new investors, Fidelity International, Railpen and Grosvenor Food & AgTech are all leading investors in ESG; their investment is testament to the important role Gousto is playing in reducing food waste and carbon emissions in the food supply chain. 

One of the first recipe box services in the UK, Gousto was founded in 2012. The company focuses on data and artificial intelligence to power its operations, including its automated fulfilment centres in Lincolnshire and Warrington and a novel customer ordering system that tailors choices based on consumer needs.  

Recruitment plans 

Gousto currently employs more than 220 people, with plans to increase this number to 500 by the end of 2022.  

Max Ohrstrand, investor for SoftBank Investment Advisers added: We have been closely watching the growth and performance of Gousto for the last few years and have been greatly impressed with what Timo and his team have achieved.  

“We believe they have succeeded in disrupting the traditional grocery channel when it comes to how we consume the evening meal and are excited to be joining the Gousto journey.” 

Meanwhile, investment fund KKR has acquired a majority stake in beverage contract manufacturer Refresco​ for an undisclosed sum. Refresco’s existing investors, PAI Partners and British Columbia Investment Management Corporation will maintain a significant minority position.   

Related topics: Fresh produce, Operations

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1 comment

Bolloks

Posted by Gousto worker,

Over 100 people loosing job because of redundancy in Lincolnshire!!!

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