- Online betting startup Better Opinions has raised $2.5Mn funding in its seed round.
- Better Opinions plans to use these funds to build and expand the product and the tech team.
- The startup competes with Mobile Premier League, Dream11 and Halapay in India’s fantasy segment.
Online betting startup Better Opinions has raised $2.5Mn funding in its seed round. The round saw participation from Metaplanet VC, Goldwater Capital, Y Combinator, Taurus VC, Original Capital, Tremis Capital, Super Capital and a slew of angel investors.
The startup was founded by Samay Jain and Soumyajit Das in 2021. The Better Opinions platform offers users the chance to trade their opinion for real money on events in various categories, including cricket, crypto-currency and politics.
Better Opinions plans to use these funds to build and expand the product and the tech team.
The managing partner of Metaplanet Rauno Miljand said, “By providing real-time cash forecasts, Better Opinions is greatly increasing their users’ decision-making abilities and financial literacy. In the current market, it is rare to see ventures that improve epistemic hygiene and can also appeal to mass markets simultaneously.”
A mere few days ago, Better Opinions was reportedly acquiring close to $3 million from social media giant Meta. It is estimated that the startup will be valued at less than $25 million after the investment.
The co-founder and CEO of Better Opinions Samay Jain said, “The funds will be used to build a trading and social platform for Better Opinions. As of now, our platform is attracting a number of enthusiastic users who are eager to trade and invest. We, therefore, envision not only creating a stock market of opinions for all to buy and sell, but also creating a social platform for users to trade and interact with each other”.
As per the startup, In addition to double auction trades, Better Opinions now offers online polls for trading opinions. To make trading more accessible, fun and educational, it is adding a social layer to the platform.
This year in February, A number of investors, including Y Combinator, Java Capital, and Soma Capital, helped it raise more than $1 million in its pre-seed round.
It competes with Mobile Premier League, Dream11 and Halapay in India’s fantasy segment.
As per the media report, By the end of the financial year 2022, the esports sector is expected to reach INR 1,100 Cr. Further, it will gain an economic value of INR 10K Cr in aggregate during 2022 and 2025.
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