Norwegian online grocery firm Oda raises 223 mln euros
08/04/2021 06:30
STOCKHOLM, April 8 (Reuters) - Norwegian online grocery firm
Oda said on Thursday it had raised 223 million euros ($264.9
million) in a funding round led by technology investment firm
Prosus NV PRX.AS and SoftBank 9984.T , to help it expand.
Oda, which delivers of groceries, meal-kits, and household
items to Norwegian homes, said existing investors Kinnevik
KINVb.ST and REMA had participated in the investment round,
which was managed by Carnegie.
The company will use the funding to start its international
expansion.
"We look forward to bringing our service to customers in
Finland later this year, and Germany in 2022," Oda CEO and
co-founder Karl Munthe-Kaas said in a statement.
Oda currently has a share of online grocery orders in Norway
of over 70%.
"Oda's leadership and impressive growth in Norway paired
with its ground-breaking technology and ambition to scale across
Europe and beyond makes them an ideal partner to tackle the
grocery opportunity over the coming years," said Prosus Food CEO
Larry Illg.
Oda said SoftBank investor Neil Cunha-Gomes and Roger
Rabalais, CFO at Dutch-based Prosus Group's Food Delivery, will
join its board as part of the transaction.
($1 = 0.8418 euros)
(Reporting by Helena Soderpalm; Editing by Simon Johnson)
((helena.soderpalm@thomsonreuters.com; +46 8 700 10 15; Reuters
Messaging: helena.soderpalm.reuters.com@reuters.net))