Ocado boosts firepower with 1 billion pounds capital raise

Ocado, the British online supermarket and technology group, plans to raise 1 billion pounds, giving it more firepower to capitalise on the rapid growth of the online grocery market triggered by the coronavirus crisis."This capital raise gives Ocado Group the opportunity to accelerate our role in creating sustainable change in the industry, allowing us the flexibility to move at increased pace and capitalise on the full opportunity set over the medium term," CEO and founder Tim Steiner said.Ocado