Ocado aims to raise £575m from investors to fund tech arm expansion

Firm wants to invest in innovation at faster pace' and help clients as online grocery market grows

Ocado is aiming to raise 575m from investors to fund the expansion of its technology arm, which enables overseas retailers to sell groceries online. It has also agreed a new 300m credit facility with a syndicate of international banks.

Ocado said it wanted the cash to invest in innovation at a faster pace" and help its clients, which include the US supermarket chain Kroger and the French grocer Casino, to accelerate the shift to online shopping.