HONG KONG, May 15, 2017 /PRNewswire/ -- Oddup, the leading startup research platform that provides transparency to startup investing using data and analysis, announced today that it has raised US$6 million in Series A funding. The Times Group, India's largest media conglomerate, who has also invested in Uber, Flipkart, and Snapdeal, led the investment round with existing investors 500Startups and Click Ventures. New investors in this round includes Silicon Valley based Moneta Ventures and White Capital. The investment brings Oddup's total funding to US$7 million.
With a strong research and advisory team formerly from Goldman Sachs, Oddup rates startups from a score of zero to 100 and delivers startup data, research, and media that covers this new asset class that is of core interest to angel investors, venture capital and now private equity. The financial industry is increasingly in need of reliable sources of data and expertise and Oddup's platform transforms the traditional startup landscape into an environment with more transparency through a data-driven approach.
The Series A raise builds on an exceptional year for Oddup which saw the partnership with Thomson Reuters, a rapid growth of users and launches in multiple cities across South East Asia. The financing will help the company expand into India and complete its aggressive expansion throughout Asia. Oddup is firmly positioned to continue its strong growth trajectory and establish itself as the leading provider of startup data not just in Asia, but globally.
"Exactly 18 months ago we set up a team based in the Silicon Valley to facilitate, assist and showcase the India opportunity to global entrepreneurs. Oddup is such a fast growing global startup that we decided to back and lead their way into India. We look forward to working towards the success of Oddup in setting up a truly innovative startup rating system for India," said Mr. Sivakumar Sundaram, CEO of Brand Capital, the investment arm of The Times Group.
"We are very proud to have The Times Group as a key strategic partner of Oddup. Their distribution networks and coverage will be instrumental to our growth and global presence. This funding allows us to strengthen our research and coverage on a global scale. Our core goal remains the same and that is to help investors better understand the startups they are interested in," says Jackie Lam, Co-Founder and COO of Oddup.
Oddup has recently introduced an updated version of its website to allow investors from around the world to tap into the startup landscape in Asia and to bring more news coverage and analysis to its users. The platform continues to be free to sign-up and use, with a subscription charge for premium access to the reports and in-depth analysis. The Oddup API is available to customers who want to seamlessly integrate Oddup's startup data into their existing workflows and Oddup Mobile is available on Apple iOS and Android to help investors find key startup information on the go.
Oddup is a data-driven research platform that focuses on startups. Known as The Startup Rating System, it provides data, trends, current and expected future valuations of startups. The company's vision is to bring insight and transparency across the startup landscape to enable smart startup investing. Oddup rates startups with a rating score from zero to 100. It is based on the combination of analyst view points and the computed algorithm, the Oddup Score. The startup rating scores are then offered as views: Buy, Hold, Sell with expectation metrics and future valuations. For more information, visit www.oddup.com
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