Norway’s leading online grocery retail platform
Oda at a glance
Oda is Norway’s leading online grocery retail platform, offering a wide range of fresh and dry food, and household products at competitive prices with home delivery to its >80k Norwegian customers. Oda’s mission is to be the most efficient and sustainable online grocer in the world, leveraging its best-in-class operational efficiency and its already superior food waste reduction compared to traditional grocery retailers.
- Sector
- Food Retail
- Revenue
- EUR 296m
- Location
- Norway, Germany
- Website
- https://oda.com/no/
- Investment theme
- Resource Efficiency
- Contact
- martin.gjolme@summaequity.com
Key developments in 2023
Oda made several important key strategic decisions in 2023, with the main ones being (i) exit of its operations in Germany and Finland, (ii) raising NOK 600m in an internal funding round, and (iii) signing a merger with Swedish online grocery retailer, Mathem. Oda’s Norwegian business also turned EBITDA positive in September, while delivering an industry-leading average 249 UPH (+72 versus last year).
How does Oda help?
Reality today
Our food value chain is inefficient, with unnecessary food waste, significant transportation emissions, and unsustainable customer food choices.
Approach
Oda improves responsible consumption and production within our food system – mainly driven by operational efficiencies in its supply chain. Food waste emissions are approx. 50% lower compared to traditional grocery retailers and transportation emissions are reduced by 13% through eliminating consumer trips to and from grocery stores.
Aspirational future
A less wasteful and emissionintensive food system that supports access to affordable food.
Who is impacted?
Oda directly serves more than 80k consumers in Norway, helping them access more than 8k unique products at competitive prices. Oda’s positive environmental impacts (through reduced emissions and food waste) also have indirect positive benefits for society broadly and for the environment.
Contribution
Oda contributes to reduction of food waste and emissions through its direct operations and offers consumers access to affordable and sustainable products.
Risks
Oda has limited control of upstream and downstream value chains and customer food choices, which can be a risk towards sustainable operations and products and reduce value chain emissions.