[Funding alert] Adtech startup OneOneDay raises $1.3 M funding, eyes 10 M users by 2020
OneOneDay, the Hong Kong-based adtech startup that recently launched its app Oodies in India, announced it has raised $1.3 million as part of its pre-Series A round. The round was led by Chinese investors and with this, the startup will be looking to deploy the funds towards scaling up its sales operations and also to sustain the ongoing enhancement of the platform.
“OneOneDay is so much more than adtech, we’ve built a team and a platform, which has ‘doing good’ woven into its DNA. Giving back to our users and giving back to social impact funds is at the heart of what we do and this initial funding round will support us in developing a platform which ultimately helps fulfil our vision. We’re here for good,” said Rick Tsing, Founder and CEO of OneOneDay, commenting on the fundraise.
With this, the adtech startup is eyeing a 10 million strong user base on its app by the year 2020. OneOneDay also has plans of launching its Oodies Browser Plug-in and TV app shortly.
The app Oodies, which recently debuted in India, basically allows users to earn cash rewards and donate advertising revenue to a social impact cause of their choice by watching advertisements curated specifically for them. For advertisers, however, Oodies provides an effective anti-advertising waste solution by matching the target audience precisely, as powered by blockchain and psychometrics.
“Oodies is disrupting the way we perceive, react to, and interact with the advertisements which largely shape our lives. The Oodies vision is an impact-driven mission which rewards viewers for their valuable time and attention by democratising the ad market and enabling us to choose media that is relevant to us and can be monetised. I have full faith in our illustrious team led by Rick Tsing and I am excited to see the future of the ad world shaped by Oodies,” added angel investor, Rohan Malhotra.
OneOneDay has so far raised $2.3 million from seed and pre-series A funding rounds. The company is currently valued at $12.8 million, and it’s in talks to raise series A round of funding soon.