Y Combinator, Taurus VC, Original Capital, Tremis Capital, Super Capital, and other angel investors participated in the funding.
The company will use the funds to build and expand its product and technology team, and for marketing, and user growth.
“The funds will also be used to make Better Opinions a trading-cum-social platform. So far, we have seen an exciting user base that is eager to trade and invest in our platform,” said Samay Jain, cofounder and chief executive officer (CEO) of Better Opinions.
Founded in 2021, Better Opinions is an app that allows users to make predictions across various categories such as cricket, cryptocurrency, politics, and entertainment to win real money if their predictions come true.
Since its launch, Better Opinions claims to have expanded from continuous double auction trades – where users can trade on ‘yes’ or ‘no’ outcomes to polls or users can choose from multiple options to trade.
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Currently, the platform has scaled to over 600,000 users and covered over 14,000 events, the company said.
“Better Opinions developed and operated a real-cash prediction market, which is increasing the critical and accountable decision-making abilities and financial literacy of its user base,” said Rauno Miljand, managing partner, Metaplanet, an early-stage investing firm.
Previously, Better Opinions had
raised over $1 million in February this year from investors, including Soma Capital and Java Capital.
It was also a part of the Winter 2022 batch of the global startup accelerator, Y Combinator, whose Indian alumni includes companies such as Razorpay and Clear (formerly Cleartax).
