Gousto, a meal kit company, has cooked up an additional £18 million worth of funding. It also welcomed Joe Wicks, a fitness writer, on the board of the firm.
Yesterday, the company disclosed that new investors, such as Unilever Ventures, Wicks, MMC Ventures, Angel CoFund, and Hargreave Hale have backed the recipe box firm.
Gousto delivers approximately 1.5 million meals per month to various customers. It has now raised around £75 million since the company was launched in 2012.
In March last year, it utilised £28.5 million of that investment into artificial intelligence and technology, doubling its factory capacity and introducing an AI recipe recommendation tool.
Timo Boldt, the chief executive and founder of the company, stated: “In March we said we would win even more of the one billion meals eaten in the UK every week, by accelerating our proposition and giving customers the meal times they actually want.”
He added: “Nine months later and the proof is in the pudding – we are making huge waves and delivering tremendous growth, by focusing on the areas the rest of the grocery market isn’t.”
Wicks is known as the Body Coach. He will bring a new range of recipes. These will be developed alongside Gousto and will available to customers starting this month.
Mindful Chef, one of its smaller rival which is currently being run by Tim Lee, the former head of food of Marks & Spencer, also announced that the company was able to raise approximately £6 million from Piper, a specialist investor. It is considered as a further sign of the expanding market for recipe box meals.
The company is based in Wandsworth. It provides gluten-free, dairy-free recipe boxes and was launched by three childhood friends in 2015.
During the previous year, it has recorded an increase of 178 percent in the annual sales of the company to £10 million.