After launching its Oodies app in India and partnering with telecom company Airtel, Hong Kong-based adtech startup OneOneDay has now raised $1.3Mn in Pre Series A round from Chinese investors to fuel its expansion plans.
The list of investors also includes Indian angel investor Rohan Malhotra, founding partner at Tiberius Holdings. OneOneDay plans to use this funding to scale up its sales operations and optimise the platform further.
Founded in 2017 by Rick Tsing, OneOneDay owns Oodies, which is a permission-based advertising platform that allows users to manage cross-channel accounts. The platform is powered by blockchain and psychometrics, and claims to provide an anti-advertising waste solution by targeting the audience precisely and redirect these funds to viewers and the social causes of their choice.
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Besides Airtel, the company’s portfolio includes HUL’s Fair & Lovely Career Foundation and Bisleri. The company has raised over $2.3 Mn in seed and Pre-Series A round, and are in talks for Series A funding round as well. Oodies is launching two pilots with Airtel and Sheroes which will allow them to share the app with other users.
The Indian AdTech Market To Cross INR 1K Cr by 2024
According to a report by IMARC Group, the Indian advertising market had reached a valuation of INR 641K Cr in 2018, growing at a CAGR of 11.4% between 2011 and 2018. Moreover, the market is expected to be the fastest-growing market in Asia, after China, reaching INR 1227K Cr by 2024.
According to a report published by IDC in September 2018, in spite of ongoing intense mergers and acquisitions activity, the global advertising software market is still highly fragmented. The report points out that the top 15 vendors represented less than 40% of the overall market in 2017 and small, specialised vendors with limited revenue making up the rest. The overall market for advertising software is said to have grown at 38% year over year from $9.2 Bn in 2016 to $12.7 Bn in 2017.
Some of the platforms in the Adtech industry include Silverpush, UrbanIQ, InMobi, SoKrati and YuktaMedia, among others.
Founded in 2007 by Naveen Tewari, Piyush Shah, Abhay Singhal, Mohit Saxena, and Amit Gupta, Bengaluru-based adtech unicorn InMobi’s content platform Glance had raised $45 Mn, in September 2019, from growth-stage investment firm Mithril Capital.