Oda Valuation, Funding & Investors

Oda is valued at $354M as of December 2022.

See full Oda profile

Last Oda valuation

$354M

Undisclosed stage · Dec 2022

Last Oda funding round

$152M

Undisclosed stage · Dec 2022

Cumulative funding Oda raised

$587M

across 8 funding rounds

Key investors in Oda

Oda Overview

About Oda

Oda, formerly known as Kolonial, is a Norwegian online grocery delivery company, established in 2013, that operates in Norway, Finland, and Germany. It fulfills orders through automated warehouses and distribution centers, focusing on rapid delivery and operational efficiency. Oda reached profitability in its home Norwegian market in 2021.


Founded

2013

HQ

NorwayOslo

Website

oda.com

Status

Privately held

Customer focus

B2C

Revenue model

Product sales

Valuation

$354M (Dec 2022)

Oda Valuation

Oda is currently valued at $354M, based on its undisclosed-stage round in December 2022.

The $152M round included Verdane, Kinnevik and Summa Equity.

Oda's valuation has grown 2.6x from $135M at its undisclosed-stage round in October 2016 to $354M in December 2022, across 7 priced rounds.

Oda valuation by funding round

Oda valuation by funding round
DateStageValuation
Dec 2022Undisclosed stage$354M
Jun 2021Secondary$900M
Apr 2021Undisclosed stage$902M
Apr 2019Undisclosed stage$735M
Aug 2018Undisclosed stage$196M
Jun 2017Undisclosed stage$195M
Oct 2016Undisclosed stage$135M

Oda Funding History

Oda has raised a total of $587M across 8 funding rounds, plus 2 secondary share sales.

Oda's first fundraising round was a $2M seed round in May 2015. The most recent completed round was a $152M undisclosed-stage round in December 2022.

Oda funding rounds

Oda funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Jul 2026SecondaryVerdane (lead)---
Dec 2022Undisclosed stageVerdane; Kinnevik; Summa Equity$152M$354M-
Sep 2022Undisclosed stageSoftBank Group (lead)$58M--
Jun 2021Secondary-$5M$900MOda, a Norwegian online grocery delivery startup operating in Norway, Finland, and Germany, raised $265 million in April 2021 from investors including SoftBank’s Vision Fund at a valuation of around $900 million. The company was previously known as Kolonial. This funding round valued Oda significantly higher than its later 2022 round, which saw a post-money valuation drop to $353 million after raising $151 million amid challenging market conditions for online grocery delivery post-COVID. Oda demonstrated profitability in Norway during 2021, achieving an operating profit of NOK 29 million. The company reported sales growth of 15-20% year-over-year in recent months leading up to late 2022, attributing this to price reductions to match discount competitors. Customer satisfaction remained high with a wide product range at low prices delivered directly to homes. The 2021 raise positioned Oda as one of Europe's larger online grocery players during the pandemic boom, though subsequent economic shifts led to margin pressures and a devaluation in follow-on funding.
Apr 2021Undisclosed stageProsus Ventures (lead); SoftBank Group (lead); REMA 1000; Kinnevik$268M$902MOda (formerly Kolonial.no) is a Norwegian online grocery delivery platform operating primarily in Scandinavia, focusing on rapid delivery of groceries through automated warehouses and distribution centers. Oda expanded into Germany and Finland with significant equipment orders in 2022 for new sites, indicating aggressive growth in European markets. The company raised $411.72M across 13 funding rounds, with a notable Series C and Secondary Market-III round on 4/8/2021 involving investors including Prosus Ventures, SoftBank Vision Fund, Kinnevik, and REMA 1000. A nearby Secondary Market-IV round on 6/2/2021 valued Oda at $1,200M post-money. Later rounds included a $150.31M Series D on 12/6/2022 and a $59.45M Convertible Note-II on 9/14/2022 led by Kinnevik and others.
Apr 2019Undisclosed stageKinnevik (lead)$35M$735MOda, formerly known as Kolonial, is a Norwegian online grocery delivery company focused on efficient fulfillment operations and international expansion. Kinnevik first invested in 2018 and participated in a funding round co-led by SoftBank and Prosus, emerging as the largest shareholder. The round valued Oda at NOK 7.5bn post-money, with Kinnevik contributing approximately NOK 200m, of which NOK 170m was from a 2019 convertible bridge note converting at a discount. Prior to the round, Oda demonstrated strong traction by consistently exceeding budgeted growth, achieving record fulfillment efficiency, and advancing international expansion preparations. Kinnevik's CEO highlighted the team's focus on growth and efficiency, noting world-class productivity levels. The investment provided a valuation uplift of over 40% on Kinnevik's holding, from SEK 1,087m at year-end 2020 to just below SEK 1.6bn. Later rounds include a June 2021 valuation of $1,200M and a Series D in December 2022 raising $150.31M, with Kinnevik as an investor in multiple rounds including 2022. Oda has raised a total of $411.72M over 13 rounds as of 2022.
Aug 2018Undisclosed stageKinnevik (lead)$36M$196MOda, formerly known as Kolonial, is a Norwegian online grocery delivery company established in 2013, focusing on rapid delivery of groceries in Norway, later expanding to Finland and Germany. Kinnevik held a 15% shareholding in Kolonial (Oda) as of Q4 2018, valued at SEK 309m based on a total equity value of NOK 2.0bn from a funding round and secondary transaction in Q3 2018, aligning closely with the specified August 2018 round involving Kinnevik. This post-money valuation reflects the company's early growth stage in the competitive online grocery sector. The 2018 funding valued Oda at NOK 2.0bn total equity, with Kinnevik as a key investor. Later rounds, such as the 2021 Series C at $1.2bn and investments from Kinnevik, Summa Equity, and Verdane totaling NOK 1.5bn new equity plus NOK 621m debt conversion implying NOK 3.5bn post-money, show continued backing and scaling. The company achieved profitability in Norway by 2021 and focused on matching discount competitors' prices to boost sales. Oda raised over $411M across 13 rounds by 2022, with Kinnevik participating in multiple, including Series D.
Jun 2017Undisclosed stageRASMUSSENGRUPPEN$18M$195M-
Oct 2016Undisclosed stageStenshagen Invest; RASMUSSENGRUPPEN; Pactum; Varner$18M$135M-
May 2015SeedAlliance VC (lead)$2M--

Who has invested in Oda?

11 investors have backed Oda across its funding rounds, including Kinnevik, SoftBank Group, Verdane, RASMUSSENGRUPPEN, Prosus Ventures and Alliance VC.

Lead investors include Verdane, SoftBank Group, Prosus Ventures, Kinnevik and Alliance VC.


Oda Investors

Investors in Oda by funding rounds participated
InvestorHQRoundsRoleFirst check
KinnevikSwedenStockholm4LeadAug 2018
SoftBank GroupJapanTokyo2LeadApr 2021
RASMUSSENGRUPPENNorwayKristiansand2ParticipantOct 2016
VerdaneNorwayOslo2LeadDec 2022
Stenshagen InvestNorwayOslo1ParticipantOct 2016
Alliance VCNorwayNorway1LeadMay 2015
REMA 1000NorwayNorway1ParticipantApr 2021
PactumSwitzerlandZurich1ParticipantOct 2016
VarnerUnited StatesNorway, IA1ParticipantOct 2016

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Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples

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Acquisitions by Oda

Oda has acquired 1 company to date.

Last acquisition by Oda was on November 16th 2023. Oda acquired MatHem for undisclosed valuation.


Latest Acquisitions by Oda

MatHem
Description
-
HQ CountrySweden
HQ City
Stockholm
Deal Date16 Nov 2023
Valuationundisclosed
EV/Revenue
EV/EBITDA

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Oda Competitors

Oda competitors include listed companies like HelloFresh and BHG Group, and private ones like Omie & Cie, Bloom & Wild, Bobbie and Purple Style Labs.

Public and private companies comparable to Oda
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
Omie & CieFranceParisPrivate--$406M-
HelloFreshGermanyGermanyPublicly listed$7.8B$246M$452M0.0x
Bloom & WildUnited KingdomUnited KingdomPrivate--$500M-
BobbieUnited StatesSan Francisco, CAPrivate$165M-$570M3.5x
Purple Style LabsIndiaMumbaiPrivate$45M-$352M7.8x
BHG GroupSwedenSwedenPublicly listed$1.1B$104M$360M0.5x

Oda Public Comps

Oda is still privately-owned, but its public comps include Willi-Food, Temple & Webster, Shenzhen Pagoda, Tarczynski, Molinos Rio De La Plata, Lifeway Foods, Rainbow Chicken, BHG Group, Village Farms and Nice One.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Willi-Food$201M$39M1.3x-6.7x-
Temple & Webster$427M$13M0.7x0.6x22.4x15.5x
Shenzhen Pagoda$1.2B($20M)0.4x0.3x(23.8x)21.2x
Tarczynski$593M$68M1.1x-9.5x-
Molinos Rio De La Plata$630M($8M)0.8x-(64.0x)-
Lifeway Foods$212M$24M1.8x1.5x15.8x17.9x
Rainbow Chicken$1B$131M0.2x-1.7x-
BHG Group$1.1B$104M0.5x0.5x5.2x6.4x

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Common questions about Oda

When was Oda founded?Oda was founded in 2013.
Where is Oda headquartered?Oda is headquartered in Oslo, Norway.
Is Oda publicly listed?No, Oda is a private, VC-backed company.
What is Oda's valuation?Oda was last valued at $354M in its undisclosed-stage round in December 2022.
How much funding has Oda raised?Oda has raised $587M across 8 funding rounds.
What was Oda's last funding round?Oda's last funding round was a $152M undisclosed-stage round in December 2022.
Who are Oda's investors?Oda's investors include Kinnevik, SoftBank Group, RASMUSSENGRUPPEN, Verdane, Stenshagen Invest, Alliance VC, REMA 1000, Pactum, Varner, Prosus Ventures and 1 other.
Which companies are comparable to Oda?Companies comparable to Oda include Omie & Cie, HelloFresh, Bloom & Wild, Bobbie, Purple Style Labs and BHG Group.
How many companies has Oda acquired?Oda has acquired 1 company, including MatHem.

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