Monday 2 November 2020 6:38 am

Gousto becomes latest UK tech 'unicorn' after lockdown surge

Recipe box firm Gousto has become the UK’s latest tech “unicorn” after raising £25m in a new funding round.

The new investment, which came from existing partners Perwyn and BGF, means that the company is now achieved a valuation of over $1bn.

Read more: Recipe box firm Gousto expects to report first annual profit in 2020

It is the fourth tech firm to gain the mantle this year.

Gousto, which was founded in 2012, doubled its monthly meal deliveries from 2.5m to 5m over lockdown.

The Joe Wicks-backed company said that sales in the first half alone had surpassed last year’s tally of £83m, the Sunday Times first reported.

Earlier this year it said it was on track for its first ever annual profit this year.

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Chief executive and founder Timo Boldt said: “Achieving tech unicorn status and joining the ranks of those elite companies that have attained a billion dollar valuation is a proud moment for the entire Gousto team and all of our shareholders but we are still only just getting started.

“The market opportunity ahead of us is vast, as changes in consumer behaviour drive permanent change through the entire grocery market.”

Gousto’s recipe boxes contain 55 different meal options at a price of £2.98 per portion.

Read more: Recipe box firm Gousto secures £33m investment as coronavirus boosts business

The firm said that it would use the latest funding to double the size of its workforce to 2,000 over the next two years.

It will triple its capacity to provide its boxes over the same period.

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