Oda
Oda: A new live music listening experience.
| Date | Investors | Amount | Round |
|---|---|---|---|
| investor | €0.0 | round | |
| N/A | $5.5m | Early VC | |
| Total Funding | 000k | ||
Oda, established in 2013, is an online grocery retailer headquartered in Oslo, Norway. The company was founded by Karl Munthe-Kaas, Vegard Aakre Vik, and Christian Mikalsen, who serve as CEO, CFO, and CTO respectively. Their objective was to simplify daily life by transforming the grocery shopping experience in Norway. The business operates a direct-to-consumer (B2C) model, serving customers through an e-commerce platform and mobile applications available for both Android and iOS. Revenue is generated from the direct sale of a wide array of products.
The company's platform provides an extensive selection of over 7,500 items, including fruits, vegetables, meat, seafood, and other household necessities, offered at prices comparable to discount stores. Oda differentiates itself through an emphasis on logistical efficiency and a proprietary, in-house technology platform. This data-driven approach allows for optimized supply chain management and sustainable operations. A core component of their business strategy is service design, which focuses on creating a seamless user journey by prioritizing the customer's perspective. This has enabled them to build an efficient retail system from their warehouses to the customer's doorstep, offering reliable same-day or next-day delivery.
To remain competitive, Oda employs automated price optimization for a significant portion of its catalog, allowing for dynamic pricing strategies in response to market changes. Initially operating with on-premise servers, the company has transitioned a majority of its services to Google Cloud to support its significant growth and international expansion plans into markets like Finland and Germany. Having raised a total of $473 million in funding over five rounds, Oda's latest valuation was noted at $353 million as of December 2022.
Keywords: online grocery, e-commerce, food delivery, retail technology, logistics platform, supply chain optimization, grocery retail, consumer goods, Norwegian retail, home delivery, mobile commerce, data-driven retail, service design, food tech, online supermarket, last-mile delivery, European grocery, direct-to-consumer, Oslo startup, retail automation