Oda
- 🦄Became a unicorn2021
- 📈Peak valuation$1.2 Billion ’21
- 💔Became a Unitard2022
- 💸Last valuation~$360M
How it happened
Oda was a Norwegian online-grocery pioneer, known for highly efficient automated warehouses and backed by SoftBank's Vision Fund, Kinnevik, Verdane and Summa Equity. It reached unicorn status in 2021 at 10.2 billion kroner (around $1.2B) and pushed into Germany and Finland — expansion that proved costly as the market turned. A December 2022 down round raised $151M but at roughly 3.5 billion kroner (~$353M), stripping its unicorn status; Oda later retrenched to the Nordics and merged with Sweden's Mathem. Glassdoor reviews from those years are striking for how many still praised the culture even amid the retreat, describing successive downsizing rounds after autumn 2022 and instability that employees tied to constant fundraising and cash burn.
Employee accounts paraphrase anonymous, unverified reviews posted publicly on Glassdoor ↗. See our methodology.
Source: TechCrunch / Sifted / PitchBook (Norwegian online-grocery startup backed by SoftBank's Vision Fund, Kinnevik, Verdane and Summa Equity; reached unicorn status in 2021 at 10.2B kroner (~$1.2B); a December 2022 down round of $151M cut its post-money valuation to ~3.5B kroner / ~$353M, stripping its unicorn status; later merged with Sweden's Mathem)
