Probo, an event trading firm, is raising $25 million in a Series A round
- ByStartupStory | February 22, 2022
According to three people familiar with the situation, event trading firm Probo is likely to acquire $25 million in a Series A round from new and existing investors. This would be the company’s second investment round in the last year.
In March 2021, it secured $2.5 million from Sequoia and Elevation Capital.
Probo is an event trading website founded by Sachin Gupta and Ashish Garg that allows users to trade their thoughts on upcoming events in many categories such as cricket, politics, football, finance, entertainment, and startups. Users on the site may sell their opinions for a fair price and earn prizes.
Probo will be valued at roughly $100-120 million, according to the sources mentioned before. Probo, Sequoia, Elevation, and Fundamentum did not respond to queries given to them right away. If they do, we’ll update the post.
Kunal Shah, Kunal Bahl, Rohit Bansal, Bhavik Koladiya, and Vaibhav Domkundwar are among Probo’s seed round investors.
This market has been growing globally as well Kalshi, Polymarket, Bitclout, and Hedgehog, all based in the United States and Western markets, have generated early attention with their fundraising. Polymarket received funding from Polychain Capital and angel investors like Naval Ravikant and Balaji Srinivasan, while Kalshi received a $30 million Series A investment from Sequoia in February of last year.
PlotX competes with the web3 platform in the same market. Alpha Wave Incubation (AWI), Polygon’s co-founder Sandeep Nailwal, Alan Howard, the co-founder of Brevan Howard Asset Management, and others have invested $5 million in the company.
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