The subscription recipe-box service backed by Joe Wicks and SoftBank’s Vision Fund 2 has raised $50m at a reduced valuation to help it weather a volatile period”, Sky News learns.
Gousto, the meal-kit delivery service, has cut its valuation after raising tens of millions of pounds in additional funding to steer it through a volatile economic period.
Founded in 2012, Gousto sells subscriptions to recipe boxes and markets itself as offering healthy meals at value-for-money prices. SoftBank invested at a significant premium to the valuation that saw Gousto become a"unicorn" - companies worth at least $1bn - in November 2020, meaning it is now likely to be sitting on a paper loss on its stake.
The company was founded by Timo Boldt and James Carter, two former investment bankers, with the former winning the accountancy firm EY's prestigious Entrepreneur of the Year award in 2022.Despite the fall in its valuation, his stake is likely to be worth hundreds of millions of pounds. In 2021, the company named Katherine Garrett-Cox, a prominent City figure, as its chairman, an appointment that was interpreted as a clear sign that it was preparing to go public.
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