Omada wants to become a healthy alternative to sports betting sites. It just raised $7.5 million with this 9-slide pitch deck.
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- French social gaming startup Omada has raised $7.5 million in a seed round led by Felix Capital.
- Omada wants to establish itself as a healthy alternative to sports betting sites, especially for Gen Zs.
- Check out the 9-slide pitch deck it used to raise the fresh funding below.
Social gaming startup Omada has just secured $7.5 million in seed funding from Felix Capital.
The French startup, which launched less than two years ago, bills itself as a healthy alternative to traditional sports betting apps. It allows users to challenge each other through free predictions on various sports games, including football, basketball, and baseball, among others.
“It’s not just a game, it’s a social game,” said cofounder and CEO Adrien Miniatti. “You can have a private squad if you just want to chat with them on the game, and play against them.”
As users collect points, they can rise on the league tables — a feature that has also engaged its user base, said Miniatti. Currently, Omada’s main user base largely consists of Gen Zs — especially those aged 15 to 22 — across the six countries that it operates in. It recently hit a milestone of one million users.
Beyond its core game-prediction and social features, Omada has also worked on a range of campaigns to raise awareness about betting addictions. The startup is also partnered with influencers and French football club Red Star FC, as part of its campaigning efforts.
Currently, the app is free to download, but the startup makes its money in two ways. It offers certain in-app purchases to users, who cannot buy points but can buy ‘diamonds’ to boost their competitive play, and also gets money through selected commercial partnerships, which are featured on Omada’s platform.
While Miniatti, who has “built companies for the past ten years,” was hesitant to get venture capital funding for Omada, he found that bringing on board gaming and consumer investment specialists added a lot of value to his team.
The seed round was led by London-based venture capital firm Felix Capital, which has previously backed Deliveroo and Highsnobiety, with additional participation from 20VC, Play Ventures, F4, Motier Ventures, and others.
Julien Codorniou, partner at Felix Capital, noted the startup’s operation “at the intersection of gaming, social networking, sports, and entertainment” as a standout feature when investing in the company.
With the fresh funding, Omada will ramp up its product team, and focus on its expansion in the US.
Check out the 9-slide pitch deck used to secure the fresh funds: