Oda, Norway’s Largest Online Grocery Store, Enabling Thousands of People To Deliver Quality Groceries And Meals To Their Home On The Same Day – Kits and Household Items Announce Today They Are In One Of Prosus And SoftBank Vision Fund 21 led financing round 223 million Existing investors Kinnevik and REMA both participated in the Carnegie-managed investment round. As part of the transaction, Neil Cunha-Gomes, investor at SoftBank Investment Advisers, and Roger Rabalais, CFO Food Delivery at Prosus Group, will join Oda’s board of directors

Oda’s mission is to be the most effective online grocer in the world The unique business model is based on the Nordic principles of employee well-being and commitment to sustainability, as well as proprietary warehouse automation and data-driven processes that combine the highly automated fulfillment with the strong focus on personalizing the online shopping experience for its customers has made Oda the fastest growing company in its category within the Nordic countries During the e-grocery boom associated with the pandemic, the company recorded growth of well over 100% in B2C business

Oda currently has over 70% of online grocery orders in Norway and plans to use the funds to start its international expansion. It has started building a state-of-the-art fulfillment center in Finland and is expected later this year to be opened in Helsinki Oda is also planning to launch its offering in Germany in 2022 and is in talks with suppliers

Oda can claim to be the most efficient online grocer in the world at 212 UPH (units processed per hour worked in the warehouse), compared to 169 UPH for the UK’s leading online grocer in 2020

Karl Munthe-Kaas, CEO and co-founder of Oda, comments: “We believe that in Oda we have cracked the logistics code for e-groceries in order to become the cheapest, freshest and most environmentally friendly e-grocer in the world. We are delighted To finally share the news on our funding and international expansion.This comes at a time when the demand for our services is incredibly strong not only in our home country Norway but internationally as well. Our proprietary technology and automation create an extremely effective value chain from the farm to the fork allowing us to compete profitably with discounts This puts us in a unique position to win the global e-grocery race We look forward to expanding our service to customers in Finland and later this year To be able to offer in Germany in 2022 ”

“Oda’s leading position in Norway is testament to the merits of its bespoke and data-driven approach to delivering a personalized, holistic and reliable online shopping experience,” added Munish Varma, Managing Partner of SoftBank Investment Advisers. that Oda’s customer focus, market-leading automation technology and fulfillment efficiency are a winning combination and position Oda for success in scaling up internationally for the benefit of customers and suppliers alike ”

“Online groceries represent a great growth opportunity and are still in their infancy compared to traditional e-commerce. Our expertise from operating and investing in e-commerce and grocery shipping companies for over a decade, many of which are now Having promising grocery shipping companies enables us to capitalize on the opportunities in online grocery stores, “said Larry Illg, CEO of Prosus Food.” We saw a major turning point in grocery last year as the online market turned online due to COVID Accelerated Oda’s leadership and impressive growth in Norway, coupled with its breakthrough technology and ambition to scale across Europe and beyond, make it an ideal partner to seize the food opportunity for years to come ”

Oda’s successful model focuses on the efficiency of its service and affordability for its customers Munthe-Kaas and the founding members recognized from the beginning that a strong tech team was key Oda was therefore on its own end-to-end Customer experience and technology infrastructure built, including its own fulfillment center management system, routing system and app for drivers (to ensure delivery routes are environmentally friendly), as well as an app for consumers. In addition, Oda waste volumes are well below those of a standard -Supermarket Averaging below 05% waste (compared to the supermarket standard of 2%) In December 2019, Oda replaced plastic bags with cardboard boxes and, thanks to its in-house, demand-oriented bakery, now achieves 0% food waste in baked goods Oda is introducing electric delivery vehicles with the intention of becoming fully electric by 2025 Operating fleet Oda introduced yet another environmental innovation in November 2020 when it created Norway’s first food climate dashboard that allows its customers to see a receipt listing the carbon emissions of every item purchased and every order produced. p>


Weltnachrichten – FI – Prosus is co-head of the fundraising campaign worth 223 million EUR in the Norwegian e-grocery store Oda

Source: https://www.retailtimes.co.uk/prosus-co-leads-e223m-fundraise-in-norwegian-e-grocery-business-oda/