Online grocery from Norway, Kolonial, raises a mega round of NOK 150M from 3 family funds.

The investment comes after another deal in August 2016, when Kolonial sold 10% of the company to retail group Rema 1000.

According to the founder, Karl Alveng Munthe-Kaas, Kolonial sells at a NOK 10M rate a week which means about $60M yearly turnover.

The investment money will be used for expansion and reflect a valuation of NOK 1.1bn ($130M).

For a bit of a context, the Swedish online grocery provider, Mathem, in 2015 raised $24.2M, from Anders Holch Povlsen, a Danish investor who also owns shares in fashion sites in Europe (Asos, Zalando) and, more interestingly, 49% of the Danish online grocery store, nemlig.

In 2015 Mathem had about $88M in revenues and Nemlig will reach approx $150M in 2016.

Also, it should be noted that Verdane owns shares in both Kolonial and Mathem.

Original story