Mathem to raise $51M in a new capital round.

MatHem, a Stockholm, Sweden pure-play online grocery retailer, announced the completion of a capital raise totalling approximately SEK 500m ($51M).

The funding was backed by investors from Sweden, including Kinnevik AB (SEK 150m) which will control 36% of the company, institutional investor AMF (SEK 280m) which become MatHem’s third largest shareholder with an ownership stake of approximately 10%, as well as MatHem’s existing shareholders Verdane and Clas Ohlson.

MatHem, founded in 2006 by Tomas and Karolin Kull 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.