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Fresh funding for fresh food

Gousto, a meal-kit company founded by a Cambridge Executive MBA alumnus, raises £28.5 million in new funding.

2018 News: Fresh funding for fresh food.

Gousto, a meal-kit company founded by an alumnus of the Executive MBA programme at Cambridge Judge Business School, Timo Boldt (EMBA 2014), announced that it raised a further £28.5 million in equity funding.

The funding from new and existing investors Hargreave Hale, Angel CoFund, MMC Ventures, and BGF Ventures brings the total amount raised to £56.5m for Gousto, which was founded in 2012.

The company said its revenues grew nearly 100% in 2017, and it currently delivers more than one million meals monthly. Gousto delivers packages of pre-measured ingredients based on recipes to customers’ homes.

CEO and founder, Timo Boldt said:

New funding allows us to continue transforming the grocery market and supporting the British economy with the creation of new jobs, with our headcount expected to increase two-fold over the next few years.

Timo added that the company plans to prioritise investment in artificial intelligence and automation over the next year.