Gousto finalises new share placing

Gousto has announced that following a successful primary fundraise in January, it has completed a $230m (£171m) secondary placement, led by SoftBank VF2 and introduces Fidelity International, Grosvenor Food and AgTech and Railpen to its share register.

Following the recent announcement of a $100m (£74m) primary investment in a fundraise with SoftBank VF2, Gousto said the world’s largest technology-focused investor has increased its holding in the company through additional investment.

It also welcomed three additional blue-chip institutional investors onto its register. As a large global asset manager with total client assets of over $800bn, the placing by funds managed by Fidelity International reportedly recognises the “centrality of sustainability to Gousto’s business model”.

It comes as the group said it was 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. 

Timo Boldt, founder and CEO of Gousto, said: “This successful placing follows the primary capital raise announced in January and is further testament to the relevance and appetite for Gousto’s leading recipe box solution, as we meet an accelerating consumer need to eat healthily and sustainably, at value.

“I’m thrilled that following on from their initial investment, Softbank has increased its stake, which speaks volumes for where they see the business heading. I’m also delighted to welcome new shareholders to our investor base.”

He added: “Our new investors, Fidelity International, Railpen and Grosvenor Food & AgTech are all leading investors in ESG; their investment is testament to the important role Gousto is playing in reducing food waste and carbon emissions in the food supply chain.

“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.”

Max Ohrstrand, investor for SoftBank Investment Advisers, said: “We have been closely watching the growth and performance of Gousto for the last few years and have been greatly impressed with what Timo and his team have achieved. We believe they have succeeded in disrupting the traditional grocery channel when it comes to how we consume the evening meal and are excited to be joining the Gousto journey.”

Katrin Burt, managing partner, Grosvenor Food and 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.”