OneOneDay, a Hong Kong based company revolutionizing the ad-tech industry has raised $1.3 Million in a pre-series A round from Chinese investors to fuel its growth and expansion plans.
Speaking about the funding, Mr Rick Tsing, Founder & CEO, OneOneDay "OneOneDay is so much more than ad-tech; we've built a team and a platform which has done 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 us fulfil our vision. We're here for good."
OneOneDay empowers individuals to mindfully choose the advertisements they watch. The platform seeks to mine from the ad-spend waste created in the current market structure, and redirect these funds to viewers and the social causes of their choice. The company anticipates that by the end of 2020, they'll reach 10 million users on their app. OneOneDay will also launch their Oodies Browser Plug-in and TV app shortly.
Speaking about the same, Rohan Malhotra, Investor, stated, "As an angel investor, I am frequently introduced to a variety of ambitious start-ups, and Oodies is the most revolutionary and exciting one I have worked with. 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. Watch this space!"
Till date, OneOneDay has raised $ 2.3 Million from seed and pre-series A round of funding, and they are in talks to raise A round funding soon. The current valuation of the company is $ 12.8 Million and with backing received during series A, the company will start the Oodies Lab with a specific focus on building MILA to better establish intelligent ad delivery across all Oodies channels.
For advertisers, Oodies provides an effective anti-advertising waste solution by matching the target audience precisely, as powered by blockchain and psychometrics. Advertisers that are already on the platform include HUL's Fair & Lovely Career Foundation and Bisleri.
OneOneDay has recently launched the Oodies app in India which 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. The app is available nationwide in India for Android users at present.