Hong Kong-based start-up Oddup has raised US$6 million in its first venture capital financing round led by Indian media giant Times Group, as the start-up looks towards expanding into India and throughout Asia.
Oddup, which was founded in 2015, rates start-ups on a score of 0 to 100 and provides data and research on start-ups to angel investors, venture capitalists and private equity firms. The company previously raised US$1 million in a seed round in 2015.
“Exactly 18 months ago we set up a team based in the Silicon Valley to facilitate, assist and showcase the India opportunity to global entrepreneurs. Oddup is such a fast growing global startup that we decided to back and lead their way into India,” said Sivakumar Sundaram, chief executive of Brand Capital, Times Group’s investment arm.
Last August, Oddup was added to the Thomson Reuters Eikon financial data platform’s App Studio, and has also expanded to multiple cities in Southeast Asia. The company now has its sights set on breaking into the India market.
“[The Times Group’s] distribution networks and coverage will be instrumental to our growth and global presence. This funding allows us to strengthen our research and coverage on a global scale,” said Jackie Lam, chief operating officer of Oddup.
Oddup’s platform is currently free for users, but the start-up charges a subscription fee for more in-depth coverage and analysis. It also offers a mobile app for Apple iOS, with an Android app in the pipeline.
This article appeared in the South China Morning Post print edition as: Oddup gets funding from Times Group