Ocado advisers have hit out against suggestions that the etailer is facing funding problems.

In Ocado’s last set of annual accounts, the auditor’s report was unqualified but included an “emphasis of matter” statement saying that Ocado might not be a viable business without the cash injection from the float.

Ocado wants to raise £200m in an IPO and is this week embarking on the second week of its roadshow.

A spokesman for the company told The Telegraph it was “completely misleading to suggest that there is a funding issue at Ocado”. He said the “emphasis of matter” qualification in the accounts was a technical issue which had been there consistently for the last nine years because of the rate of growth over that period.

He added it was “ridiculous” to suggest that Ocado would not be able to continue the business if it did not float or raise £200m.

Ocado has also been hit by several high profile fund managers questioning its float, and valuation at between £800m to £1.3bn.

Head of UK equities at Schroders, Richard Buxton, told the Financial Times: “This is only for investors who wish to create capital gains tax losses.”

He added: “It seems there is a new rule in the City – the greater number of investment bankers on the ticket, the worse the deal. I would be amazed if this was covered at the lower end of the range.

“We might be more interested at a valuation of between £500m and £600m, but we remain very concerned about the sustainability of the business model and the loss of the M25 business.”