SoftBank and Prussia acquired the ownership of Oda (formerly known as Kolonial.no) for NOK 2 billion. One of Norway’s leading technology investors has left a deep impression on us and believes that new investors will be critical to the expansion into Germany and Finland.
-Karl-Christian Agerup, former partner of Northzone and now a partner of the startup fund Antler, said that few companies can attract such investors, which is very unique.
Northzone, co-founded by Agreup, has invested in companies such as Spotify, Kahoot, Klarna and Trustbuddy, and is one of the major success stories in technology investment in the Nordic region.
-Agerup said in a phone call to work for Antler in Singapore that Norway is almost ignored in the international venture capital arena, so it is exciting to see really big companies like SoftBank and Prosus want to join Norwegian companies.
Oda already has strong financial strength in terms of owners: Rema has industry knowledge, and Kinnevik has e-commerce expertise.
Oda senior Karl Alveng Munthe-Kaas told E24 on Thursday that the two investors will invest more than possible and must make room for the two technology funds.
-When you already have other qualified investors with strong financial strength, why join SoftBank and Pross?
-When you participate in an international competition like Oda, it is absolutely necessary for such brand investors to think for a long time and have a lot of capital. Agerup said that although Kinnevik has both expertise and money, this is a different level.
He further elaborated:
-They will sell the concept abroad and become completely different participants when they have this type of investor. You will be considered more serious and have a greater chance of success.
When asked how Agerup thinks Oda will respond to international investments with new competitors, partners and suppliers, he pointed out that compared with investors, many people view the company in a different light.
-I think the misunderstanding of many people about Oda is that they think Oda is a grocery company. Agerup said, but this is a logistics provider that can provide almost anything.
-If you pay attention to the logistics market, if you can improve the delivery of last-mile goods to consumers, you can also create a lot of value.
He believes that SoftBank will help Oda develop into “something more important than people think in Norway.”