People’s Champion Finalist: Gousto (2014)
Meet the impressive food delivery start-up with $10m investment and Startups Awards People’s Champion potential
Start-up name: Gousto
Founders: Timo Schmidt and James Carter
Started in: 2011
Based in: London
Business description: Recipe box delivery service
Gousto will be familiar to seasoned Startups readers – the innovative food delivery start-up burst on to the scene after an appearance on Dragons’ Den, failing to woo the Dragons only to go on and secure £500,000 from food industry veterans just weeks later.
The business is one of the frontrunners in an emerging cluster of ‘recipe box delivery’ start-ups, operating on a simple yet seductive business model. Customers order from a weekly list of recipes and the ingredients are delivered in to their door in their exact quantities, allowing people to create world-class meals whilst eliminating unnecessary wastage.
What sets Gousto apart from the crowd is its phenomenal rate of growth – after a rocky start where the founders had to invest all their savings, the business has grown by 900% every year and has received more than $10m investment, the most recent of which was a huge $8.3m injection led by consumer goods giant Unilever.
As CEO Timo Schmidt explained, Gousto continues to outperform all its competitors through a relentless focus on innovation.
“At first glance, it is a food business, but what you don’t see is our tech and data efforts,” Schmidt told Startups.co.uk. “We are building recommendation engines to make the experience as personal as possible, and we are using an algorithm we developed to build menus that max the taste score and customer popularity.”
Why Gousto made our 50:
900% year-on-year growth, one of the frontrunners in an entirely new market, and $10m investment; Gousto’s inclusion in the 50 was a no-brainer.