20th September 2013. Gousto, the exciting new recipe box delivery business that recently appeared on Dragon's Den, has raised further funds from investors in an exciting development for the brand. A group of food industry veterans has invested £130,000 and the Angel CoFund has invested a further £120,000, along with initial backers, this has given Gousto a total of half a million pounds worth of investment.
Gousto, the brainchild of Timo Schmidt and James Carter, delivers organic, local produce in exact portion sizes, for specific recipes - therefore eliminating any waste, making the cooking process easy for users and encouraging healthier, delicious, home-cooked dining.
This latest fundraising round will be used to further improve the customer experience. Gousto aims to introduce a number of features to make the service even more customer friendly. With growing customer numbers, Gousto will invest in their delivery, so customers will very soon have a more flexible service. The food industry investors will also specifically help Gousto with all food related issues, such as sourcing, packaging and logistics.
Timo Schmidt, CEO and Co-founder at Gousto, said, “At Gousto we want to share our vision of making it easy to cook delicious and healthy meals at home. This latest round of funding means we can both improve and grow our service and we’re delighted that our new investors are showing so much confidence in us.”
George Whitehead, Chairman of the Angel CoFund , said, ““Gousto is a business with major potential that needs upfront investment to enable it to really take off. The Angel CoFund is set up for exactly this kind of business – we want to get cash to good businesses that can then scale fast. The Dragons missed out on this investment in part because they didn’t have our advantage of spending the time to get to know the business, team and leading industry co-investors. A part of me however looks forward to the Dragons wincing at their missed opportunity when they see Gousto continue to grow from strength to strength!”
*To watch Gousto on Dragon’s Den please copy and paste the link below into your browser:
- Ends -
In 2011, Timo and James started thinking about a way to overcome the everyday issue of how to cook nice meals without all the hassle and food waste. Having tried out online supermarkets and ready meals, they felt like there has to be a better solution which led them to start selling recipes and ingredients in exact portions at a market stall at the beginning of 2012. From there it took off- Gousto was launched exactly a year ago today.
About Angel CoFund
Launched in 2011, the Angel CoFund is a privately run fund that works alongside groups of business angels to invest in high growth small and medium sized businesses across the UK, directly providing funding as well as encouraging the expansion of the business angel market.
Backed by the new Business Bank and the Government’s Regional Growth Fund, the £100m Angel CoFund is able to make initial investments of between £100,000 to £1 million into businesses, alongside syndicates of business angels. To date the fund has supported 32 companies (for example Yplan, PlayJam and Micrima) providing over £10 million in direct investment alongside £40 million from business angels.