Following their angel round a few months ago, Gousto, the London-based recipe box delivery startup, has now closed a $2 million investment round led by MMC Ventures.
The funding will be used to build up Gousto’s team of chefs and nutritionists, improve their recipes, and strengthen relationships with farm suppliers and producers. In September, Gousto raised over $500K from industry veterans and the Angel CoFund, taking their investment this year to over $2.5 million.
Founded by Timo Schmidt and James Carter in 2012, Gousto delivers organic, local produce, in perfect portion sizes, with easy-to-follow step-by-step recipes – eliminating food waste and making the cooking process easy for busy people, while also encouraging healthy, delicious, home-cooked dining. Gousto delivers ‘straight to door’ across the UK. According to the young company, the latest figures show month-on-month growth of 138%, with over 26,000 meals already being delivered per month.
James Carter, Gousto Co-Founder, said, “We don’t want to sell a product, we want to WOW Gousto members every single week and delight them. Whether you have 100 or 100,000 customers, you need to have great infrastructure in place – from sourcing, logistics, product development, tech, to fulfillment. Building this infrastructure now puts us in the pole position to grab a sizeable share of the £18 billion online food market.”
Jon Coker, Investment Partner, MMC Ventures, said: “We are excited to announce our investment in Gousto and look forward to working with Timo and James. We believe there is a significant opportunity for disruption in online grocery but it is a tough market to execute in. That is why we have backed Gousto – Timo and James are outstanding, they have achieved a market leading position in a short period of time on a limited budget and we believe our investment will allow them to really accelerate the growth”.
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