With significant overlap among investors, it is not a surprise that Oda and Mathem is merging.
While Mathem is more known in Sweden, it is Norwegian Oda (previously an Alliance portfolio company) that is the interesting part of the combination, quoting Sifted:
“Since July, Oda has been focused on its home market, Norway, where it’s doing well. On an operating level, it has a positive EBITDA and has the world’s most efficient warehouse system, with a UPH (average units processed per labour hour) of 250, which is way ahead of the competition, according to Oda.”
Oda is the best operator in the world, so after integration the new company should be bigger and stronger.