A France-based mobile developer, Omada, has successfully completed a Seed Round funding, raising $7.5 million. Omada has created a social casino app that offers a new twist – no real betting involved. The app, also called Omada, allows sporting fans to place bets in-game on real events without the risks associated with gambling. It promotes friendly competition between gamers, offering free predictions on popular sports such as football, F1, and NFL matches.
This innovative mobile game aims to establish Omada as a healthier alternative to traditional sports betting. The sports betting industry has often been linked to mental health struggles for individuals who become addicted to gambling with real money.
Securing Investment and Expanding into the US
The $7.5 million investment round was led by Felix Capital, with additional participation from 20VC, F4, Motier Ventures, and Play Ventures. Omada already boasts over one million monthly users, with 300,000 of them residing in France, where the company is based. The new funding is expected to support Omada’s expansion into the US market.
As part of its efforts to raise awareness about responsible gambling, Omada has launched campaigns like “Ferme Ton Compte” or “Operation Close Your Betting Account.” The app itself was developed using funds obtained by founder and CEO Adrien Miniatti when Ubisoft acquired his previous mobile studio, Green Panda Games.
Miniatti commented on the unique features of Omada, stating, “It is based on the mechanism of betting, but the mechanic is entirely free. Nobody is playing to become rich or be No. 1 on the leaderboard. It’s a social game, and the long-term retention is crazy.”
Omada’s retention rate is approximately twice as high as the average game, with a 70% male audience in Europe. In the US, the user base is evenly split between genders. The game generates revenue through customization options, which can be accessed using a premium currency earned by winning bets or through user spending.
Miniatti expressed his excitement about the new investments, saying, “I am thrilled to have the best partners on board as we continue to enhance our gaming experience and maintain a strong connection with our user community, which has been Omada’s strength since the beginning.”
Earlier this month, Mythic Protocol secured $6.5 million in funding for its cross-platform ambitions, while Spectarium raised €5 million to strengthen its personalized AI role-playing game.