Gousto raised £111 million in a debt and equity deal backed by Softbank.

Gousto, a London, UK-based food company, announced the completion of a financing round totalling £111 million ($150M).

The money is a combination of a £74 million ($100M) equity investment contributed to by SoftBank’s Vision 2 Fund and £37 million debt capital from UK banks HSBC and Barclays.

The proceeds will be partly used to fund a fifth AI-driven fulfilment centre in Burton-on-Trent. The new investment unlocks 40% more capacity for Gousto, with four other automated fulfilment centres in Essex, Lincolnshire and Cheshire.

Gousto, founded in 2011 by CEO Timo Boldt, operates a platform which supplies subscribers with recipe kit boxes which include ready-measured, fresh ingredients and recipes.

The company currently offers over 50 personalized recipes each week and delivers about 4 million meals to 380,000 UK customers each month.

Gousto previously raised £25 million series B in 2020.