Securing £32 million of funding for Gousto

Taylor Wessing has advised the UK’s largest online meal-kit manufacturer, Gousto, on its latest £32 million fundraising round.

The funding follows on from a strong performance in 2019 and profitability in 2020, and will be used for harnessing technology to further propel Gousto's proposition, with a particular focus on expanding its 100-strong tech team in London, accelerating innovation - including Next Day Delivery, customisation and scaling up its fulfilment capacity.

The investment came principally from existing investors, including Perwyn, BGF and MMC Ventures, and takes the total funds raised by Gousto to over £130 million.

This is the fourth funding round that Taylor Wessing has advised Gousto on. In 2019, Taylor Wessing advised Gousto on a separate, £30 million funding round.

Commenting on the transaction, partner and head of the UK Corporate Technology group, Angus Miln said: "Gousto is already a force in the recipe box category and we are proud to continue to support them as they evolve their business further.  Their innovative use of AI and automation to facilitate their offering makes them an even more exciting prospect for the future. The fact that we were able to successfully complete this deal just as the effects of COVID-19 were being felt by the market speaks to the quality of Gousto's products, the strength of the technology sector and our seamless agility in providing a full client service during lockdown conditions."

Kate Field-Lowes, General Counsel at Gousto added: “Our vision has always been to be the UK’s best loved way to eat dinner. Today’s funding from Perwyn is testament to the market's confidence in our ability to understand what our customer wants. Angus and Alex did an outstanding job helping us to close this fundraising in a challenging environment. We are delighted with the result.  We look forward to continuing our successful relationship with the firm.” 

The team was led by Angus Miln, with support from corporate associate Alex Dodds and trainee Lucie Audibert .