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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.

Fresh funding for fresh food - CEO Timo Boldt cooking prawn stir fry

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 per cent 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.