Kinnevik invests SEK 900m in MatHem

The investment comprised SEK 400m of primary capital and a SEK 500m secondary share purchases.

The fresh capital will be invested in developing MatHem's product offering and improving customer experience on its platform.

MatHem generated sales of SEK 1.5bn in 2018 and exceeded one million deliveries, according to a statement.

Previous funding
Rite Ventures backed a growth capital round for Mathem in December 2014. Terms of the deal were not disclosed.

Company
Founded in 2010, Mathem operates an online grocery store and delivers food to Swedish homes. It claims to have the largest online grocery assortment in Sweden, including a broad range of organic products. The company is headquartered in Stockholm.

People
Kinnevik - Georgi Ganev (CEO).
MatHem - Tomas Kull (CEO).

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• Topics
• Expansion
• Nordics
• Consumer
• Sweden
• Venture
• Kinnevik