Meal-kit delivery service Gousto has reportedly cut its valuation after raising tens of millions of pounds in extra funding to help it through a difficult economic period.

Sources close to the company have said the non-publicised funding round took place at a “significant” discount to the $1.7bn (£1.4bn) valuation where it raised funds last year.

The subscription recipe-box service has recently tapped existing investors for £50m in the form of a share sale, according to Sky News.

In January 2022, a $100m (£83m) primary fundraising took place and was followed by a $230m (£191m) secondary share placing that enabled existing investors to reduce their holdings.

Since its creation in 2012, Gousto has received investment from the SoftBank Vision Fund 2, Fidelity International, Railpen and Grosvenor Food & AgTech.

SoftBank invested at a significant premium to the valuation in November 2020, which saw Gousto become a company worth at least $1bn (£739m).

The size of the markdown to the funding round on Monday was unclear, with shareholders expected to be given a formal update from the company in due course.

An insider told Sky News: “The raise will provide the cash headroom required as the company enters a volatile period.”

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