Timo Boldt Gousto

Timo Boldt, CEO and founder of Gousto

Meal-kit subscription service raises £28.5m

One of the UK’s leading meal-kit businesses is set for further growth after raising a further £28.5m additional equity funding from new and existing investors.

Gousto has raised £28.5m in a funding round which saw participation from Hargreave Hale, Angel CoFund, MMC Ventures, and BGF Ventures - bringing the total amount raised by the company to £56.5m. 

Founded in 2012, the London-based company, one of the country’s fastest-growing food technology businesses, has made significant steps in leading and transforming the meal-kit industry. 

Focused on building a robust business model, revenues rocketed nearly 100% in 2017, with the company currently delivering over one million meals monthly. 

Prioritising product investment to ensure continued growth, by 2025 Gousto now hopes to be helping UK families serve 400 million nutritious home-cooked meals and extend its 0% household food waste to three million more homes. 

Timo Boldt, CEO and founder of Gousto, said: “Our commitment to technology has seen us create a leading value proposition, driving customer satisfaction levels 56%  higher than the UK’s leading supermarket. 

“Over the next year, we’ll win even more of the one billion meals eaten in the UK, by prioritising investment in AI and automation to ‘wow’ customers.

“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.” 

Oliver Bedford, co-manager of the Hargreave Hale AIM VCTs, added: “It was clear from our first meeting that the management of Gousto have brought leadership and innovation to a mature industry that will have a lasting impact on the way we purchase and consume food at home.  

“We are particularly impressed by their progress in a short period of time and excited about their plans for further service enhancements that will continue to improve the consumer experience.”