Esports betting odds provider Oddin.gg has raised $4.5m (£3.7m) through its Series A funding round.
The funding round, led by current investors as well as Genting Ventures and Velo Partners, will be used to scale the company further and develop ‘new verticals’.
Apart from strengthening its team, the funds will be used to improve Oddin.gg’s portfolio of services. According to the company, this means providing betting operators with “everything they need to set up successful business operations”. This includes data visualisations, marketing, odds feed, risk management and iFrame solutions.
The marketing aspect will be made possible following Oddin.gg’s acquisition of Thousand Lives, an esports marketing agency, earlier this year.
Oddin.gg is primarily known for providing esports odds feeds, risk management and iFrame solutions to betting operators. The company recently secured a string of partnerships with the likes of Betway and LOOT.BET, and is now seeking to further improve its offerings with the help of the Series A round. Oddin.gg received a seed round in 2020 worth $1.2m (£1m) which was used to expand the team and scale operations.
Oddin.gg also shared in a release that the company broke even in July 2022.
Oddin.gg’s two new investors are Velo Partners, an early-stage VC fund, and Gentig Ventures, the corporate venture arm of Genting Group, one of the most known casino operators in Asia.
Oddin.gg Co-Founder and CEO Vlastimil Venclik commented: “This round will help us to continue enjoying our exponential growth and development of new services that will cement our position as a leader in the industry. I want to thank all our partners for their trust, and we will work tirelessly on our vision to justify it!”.
