// Gousto slashes its valuation after raising £50m to support it through a “volatile” economic period
// The funding round took place at a “significant” discount to its $1.75bn valuation, Sky News reports
Gousto has cut its valuation to riase £50m in extra funding to support it through a challenging economic period.
Sources close to the food box provider said the funding round took place at a “significant” discount to its $1.75bn valuation from its last funding round which took place over a year ago, Sky News reports.
The additional £50m in funding raised in recent weeks was through a share sale.
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One insider told the publication: “The raise will provide the cash headroom required as the company enters a volatile period.”
It is unclear of the size of the discount but shareholders are expected to receive a formal update shortly.
Last January, a $100m primary fundraising was followed by a $230m secondary share placing which enabled existing investors to reduce their holdings.
SoftBank invested a significant premium to the valuation through its Vision Fund 2 in November 2020, which saw the recipe box reach “unicorn” status – meaning it is worth at least $1bn (£739bn).
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