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24 FEBRUARY 2022
Leading UK recipe box company Gousto has welcomed investment from Grosvenor Food & AgTech as part of a US$230 million secondary placement.
This latest round – which was led by SoftBank VF2 and included Fidelity International, Grosvenor Food & AgTech and Railpen – follows a recent fundraise of US$100m in primary capital in January 2022 and means Gousto is valued at $1.7bn.
Katrin Burt, Managing Partner, Grosvenor Food & AgTech, said: “Gousto supports households in establishing the healthy habit of cooking from scratch by offering recipe kits that cater to a broad range of tastes and budgets. Enabling people to cook high quality, fresh food at home with minimal waste has far-reaching benefits for both human health and the environment and we are excited to partner with this fast-growing company.”
Founded in 2012, Gousto pioneered the recipe box offering in the UK, identifying a need for convenient and easy to cook recipes that offered exciting variety at home, whilst reducing food waste.
Driven by its purpose to build a product that has a positive impact on people and the planet, Gousto became a certified B Corporation™ last year, joining a global community of businesses that meet the highest standards of verified social and environmental performance, public transparency, and legal accountability to balance profit and purpose.
Timo Boldt, Founder & CEO of Gousto, said: “This successful placing follows the primary capital raise announced in January and is further testament, against a backdrop of inflation and rising costs for consumers, to the relevance and appetite for Gousto’s leading recipe box solution.
“All four investors recognise the growth that Gousto has achieved and the opportunities ahead for the company as we embark on our next stage of growth and accelerate towards our goal to become the UK’s most loved way to eat dinner.”
Gousto is dedicated to reducing food waste. A recent study by environmental services company Foodsteps revealed that Gousto meals produced 23% fewer carbon emissions than the equivalent meals from supermarket stores, driven by minimising food waste, a tighter supply chain and reductions in plastic usage.
Each Gousto order saves 2kg food waste and 7kg of CO2 emissions, compared to the equivalent meal purchased at a supermarket. In 2020 alone, shopping at Gousto saved 39,000 tonnes in CO2 emissions, the equivalent of removing over 13,000 cars from UK roads.
About Grosvenor Food & AgTech
Grosvenor Food & AgTech (previously known as Wheatsheaf Group) is an international investor in food and agriculture businesses.
Our focus is to rethink and re-shape how food is grown, produced, distributed and consumed. We partner with like-minded people to understand the complex interconnectedness of our agricultural ecosystem to manage its effects and enhance human health, our environment and enable producers to thrive.
We are one of the largest and longest established investment teams in the sector. Adopting a far-sighted perspective, we aim to develop innovative business models and harness the insights and power of technology to identify, develop and scale up lasting solutions.
We are a values-led organisation which represents the Grosvenor family. Our work in food & agtech, alongside Grosvenor’s other activities in international urban property, rural estate management and support for philanthropic initiatives, shares a common purpose - to deliver lasting commercial, social and environmental benefit - addressing today’s needs while taking responsibility for those of future generations.
Public Relations and Communications Manager
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