MMC Ventures leads $2m round for Gousto

The fresh funding will help build Gousto's team of chefs and nutritionists, improve the recipes and strengthen relationships with suppliers and producers. "The company is planning on hiring a top team around the product, which will allow the business to scale," Jon Coker, investment partner at MMC, told unquote".

Gousto raised $500,000 from the Angel CoFund and industry professionals in September 2013.

MMC was introduced to the company by one of its investors. The transaction took three months to complete. 

"We see great potential in the online grocery space, but it's a question of backing the right people – you need exceptionally talented people. The company's founders have a clear vision and ambition for the company and the angel investors really know the sector too," explained Coker.

Company
Founded in 2011 and based in London, Gousto delivers boxes of ingredients and recipes to its subscribers. Ingredients are delivered in exact proportions in order to minimise food waste. All produce is organic and seasonal, and subscribers are able to select recipes ahead of delivery. The company's primary customer-base includes families and young professionals. 

People
Jon Coker is an investment partner at MMC Ventures and worked on the deal.

Advisers
Equity – Taylor Vinters (Legal); Jag Shaw Baker (Legal).  

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• Topics
• UK / Ireland
• Consumer
• Expansion
• United Kingdom
• MMC Ventures