Mathem in a SEK 500 million capital raise backed by Kinnevik, Axfood, Verdane and AMF

MatHem, a Stockholm, Sweden pure-play online grocery retailer, raised SEK 500 million ($50.1M).

The money was raised from existing investors including Kinnevik AB, Verdane, Axfood and AMF.

MatHem, founded in 2006 by Tomas and Karolin Kull (the Kull family) and led by CEO Johan Lagercrantz, built a strong household brand as it offers a broad range of grocery products and adjacent household consumables, catering to more than half of Swedish households.