The enterprise succeeded in elevating £575 million from shareholders, a goal introduced on Monday afternoon, by promoting them new shares.
It additionally managed to get one other £3 million from its senior administration, together with chief government Tim Steiner and the agency’s finance boss, who each took benefit of the cut-price shares.
The FTSE 100 agency had introduced the transfer on Monday after the markets closed.
It has additionally agreed a mortgage facility with a number of worldwide banks which can let it borrow as much as £300 million.
“The online proceeds of the capital elevate is anticipated to provide the corporate sufficient liquidity to fund the necessities of its present and anticipated buyer commitments into the mid-term, driving sturdy development and returns sooner or later,” the agency stated.
It comes as Ocado’s share worth dropped by round half in simply the previous six months. Customers flocked to the web grocery store throughout lockdown, however many are actually returning to previous habits.
The brand new cash will probably be funnelled away from the grocery store enterprise itself and invested within the know-how arm of Ocado.
Ocado Options, as it’s known as, sells automated warehouse know-how to different retailers around the globe.
Rising demand for groceries has seen its clients needing assist to extend the variety of orders they will ship, Ocado stated.
It additionally hopes to spend money on extra innovation with the money. Monetary steerage for the yr remained unchanged.
In March, Ocado launched its new Disney-inspired meal bundles, and College of Magical Mealtimes – a sequence of family-friendly recipes and cookery lessons designed to get youngsters and households enthusiastic about cooking wholesome meals collectively from scratch.
