Carnegie is proud to have acted as sole financial advisor to Oda (formerly Kolonial.no) in connection with the announced investment round of EUR 223 million led by SoftBank Vision Fund 2 and Prosus, joining existing investors Kinnevik and REMA.

Oda was established in 2013 as Kolonial.no and is Norway’s largest online grocery business. Oda’s mission is to be the most effective online grocer in the world and the company can already lay claim to being the most efficient, registering 212 UPH (units processed per labor hour at the warehouse). Oda currently has a share of online grocery orders in Norway of over 70% with close to EUR 200 million in revenue in 2020 and plans to use the funding to commence its international expansion.

Carnegie congratulates Karl Munthe-KaasVegard Aakre Vik and the rest of the Oda team with the successful investment round. Thank you for the vote of confidence – it has been a good and joyful cooperation with a lot of highlights along the way. We look forward to following Oda on its exciting international expansion journey.