Y-Combinator-backed Better Opinions, an event trading startup has raised $2.5 million in seed funding round from Metaplanet VC and Goldwater Capital.
The round also saw participation from various angel investors YCombinator, Taurus VC, Original Capital, Tremis Capital, and Super Capital.
The startup plans to use the funds to build and expand the product and technical team towards marketing and user development.
The Gurugram-based Better Opinions was founded in 2021 by Soumyajit Das and Samay Jain, It allows users to exchange their views on events across various categories like cricket, football, finance and entertainment.
“Some of our investors’ portfolio companies include The Boring Company, TikTok, Reddit and Binance. It’s heartwarming to see such investors having faith and belief in our product and team. The funding will also help with our tech and infrastructure scale up plans”, said, Soumyajit Das, Co-founder CTO, Better Opinions.
The startup claims to have over 600,000 users covering over 14,000 events within a span of 6 months.
“The funds will also be used to make Better Opinions a trading cum social platform. We have so far seen an excited user base, who are eager to trade and invest in our platform, and their demand for more events and categories is a testament to the potential of our product. Our vision from here is therefore not only to create a stock market of opinions and make trading accessible to all, but to build a social platform where our users can trade and engage”, said, Samay Jain, Co-founder CEO, Better Opinions.
Speaking on the investment, Rauno Miljand, Managing Partner, Metaplanet, says, “Better Opinions developed and operated real cash prediction market is contributing greatly to increasing critical and accountable decision-making abilities and financial literacy of their user base. It is rare to see ventures having a positive impact on epistemic hygiene while also appealing to the mass market – Better Opinion is one of few.”
In February 2022, Better Opinions had raised $1 million in its pre-seed funding round from YC, Soma Capital and Java Capital.
About Better Opinions
A YC W22 company. They have a platform that seeks to be the stock market of opinions.
They let the user trade on results across multiple categories while empowering them with actionable information to help them with their trades.