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Novig Announces $6.4M In Seed Funding From Leading Investors Ahead Of Launch In Colorado

Aug 22, 2023•over 2 years ago

Amount Raised

$6.4 Million

Round Type

seed

New YorkGamblingSports

Investors

Bronco Billy's Casino PropertyFull House ResortsNovigCapital XTrue Culture FundTracPalm Drive CapitalArchon CapitalRavi ShethAlan RutledgeAusten AllredArash FerdowsiBayhouse CapitalRebel FundInnospark VenturesSoma CapitalJoe MontanaPaul GrahamY CombinatorLux Capital

Description

Novig, a high-frequency, commission-free sports betting exchange, announced today that it has completed a seed funding round totaling $6.4 million from a group of prominent investors ahead of its launch in Colorado. Funding was led by Lux Capital with participation from Y Combinator, Paul Graham, Joe Montana, Soma Capital, Innospark Ventures, Rebel Fund, Bayhouse Capital, Arash Ferdowsi (Dropbox), Austen Allred, Alan Rutledge, Ravi Sheth, Archon Capital, Palm Drive Capital, TRAC, True Culture Fund, CapitalX, and many others.

Company Information

Company

Novig

Location

New York, New York, United States

About

Novig is America's #1 Sports Prediction Market, and the only platform to offer commission-free, peer-to-peer trading on sports. By eliminating the traditional sportsbook model, Novig delivers better pricing, full transparency, and a more efficient market structure for users.

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Funding Insights

Based on industry data
VC-backed spending patterns
VC-backed companies spend 89% more on sales and 100% more on marketing than bootstrapped peers