- Companies
- Oda
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
Kinnevik
SoftBank Group
Verdane
RASMUSSENGRUPPEN
Prosus Ventures
Alliance VC
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
Website
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
| Date | Stage | Valuation |
|---|---|---|
| Dec 2022 | Undisclosed stage | $354M |
| Jun 2021 | Secondary | $900M |
| Apr 2021 | Undisclosed stage | $902M |
| Apr 2019 | Undisclosed stage | $735M |
| Aug 2018 | Undisclosed stage | $196M |
| Jun 2017 | Undisclosed stage | $195M |
| Oct 2016 | Undisclosed 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
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Jul 2026 | Secondary | Verdane (lead) | - | - | - |
| Dec 2022 | Undisclosed stage | Verdane; Kinnevik; Summa Equity | $152M | $354M | - |
| Sep 2022 | Undisclosed stage | SoftBank Group (lead) | $58M | - | - |
| Jun 2021 | Secondary | - | $5M | $900M | Oda, 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 2021 | Undisclosed stage | Prosus Ventures (lead); SoftBank Group (lead); REMA 1000; Kinnevik | $268M | $902M | Oda (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 2019 | Undisclosed stage | Kinnevik (lead) | $35M | $735M | Oda, 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 2018 | Undisclosed stage | Kinnevik (lead) | $36M | $196M | Oda, 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 2017 | Undisclosed stage | RASMUSSENGRUPPEN | $18M | $195M | - |
| Oct 2016 | Undisclosed stage | Stenshagen Invest; RASMUSSENGRUPPEN; Pactum; Varner | $18M | $135M | - |
| May 2015 | Seed | Alliance 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
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 4 | Lead | Aug 2018 | ||
| 2 | Lead | Apr 2021 | ||
| 2 | Participant | Oct 2016 | ||
| 2 | Lead | Dec 2022 | ||
| 1 | Participant | Oct 2016 | ||
| 1 | Lead | May 2015 | ||
| 1 | Participant | Apr 2021 | ||
| 1 | Participant | Oct 2016 | ||
| 1 | Participant | Oct 2016 | ||
This data is available for Pro users. Sign up to see all 11 Oda investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
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Start Free TrialAcquisitions 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
| Description | - |
| HQ Country | |
| HQ City | Stockholm |
| Deal Date | 16 Nov 2023 |
| Valuation | undisclosed |
| EV/Revenue | |
| EV/EBITDA | |
This data is available for Pro users. Sign up to see all Oda acquisitions and their M&A valuation multiples. Start Free Trial | |
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.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | - | - | $406M | - | ||
| Publicly listed | $7.8B | $246M | $452M | 0.0x | ||
| Private | - | - | $500M | - | ||
| Private | $165M | - | $570M | 3.5x | ||
| Private | $45M | - | $352M | 7.8x | ||
| Publicly listed | $1.1B | $104M | $360M | 0.5x |
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 FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $201M | $39M | 1.3x | - | 6.7x | - | |||
| $427M | $13M | 0.7x | 0.6x | 22.4x | 15.5x | |||
| $1.2B | ($20M) | 0.4x | 0.3x | (23.8x) | 21.2x | |||
| $593M | $68M | 1.1x | - | 9.5x | - | |||
| $630M | ($8M) | 0.8x | - | (64.0x) | - | |||
| $212M | $24M | 1.8x | 1.5x | 15.8x | 17.9x | |||
| $1B | $131M | 0.2x | - | 1.7x | - | |||
| $1.1B | $104M | 0.5x | 0.5x | 5.2x | 6.4x | |||
This data is available for Pro users. Sign up to see all Oda competitors and their valuation data. Start Free Trial | ||||||||
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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