Oda Raises €223M in Funding

Oda (formerly known as Kolonial), an Oslo, Norway-based online grocery company, raised €223m in funding.

The round was led by Prosus (formerly known as Naspers) and Softbank Vision Fund 2, with participation from previous backers Kinnevik and REMA.

The company will use the funds to continue to expand its business reach internationally, beginning with Finland, with a new fulfilment center due to open in Helsinki later this year, and launching in the €220bn German grocery market in 2022.

Oda is an online grocer with a business model built on employee wellbeing and a commitment to sustainability, as well as proprietary warehouse automation and data-driven processes.