What is Novig?
Novig distinguishes itself in the competitive sports betting market by offering a commission-free exchange that guarantees users the best odds. By enabling direct betting between users or against the market, Novig bypasses the traditional sportsbook model, creating a more efficient, fair, and profitable betting environment. Positioned to capitalize on the evolving U.S. regulatory landscape, Novig leverages quantitative research and high-frequency trading principles to drive its unique platform, aiming to become a leader in sports betting innovation.
How much funding has Novig raised?
Novig has raised a total of $24.4M across 2 funding rounds:
Angel/Seed
$6.4M
Series A
$18M
Angel/Seed (2023): $6.4M with participation from Innospark Ventures, Soma Capital Partners, Lux Capital, Y Combinator, and Rebel Fund Management
Series A (2025): $18M led by Gaingels, Perceptive Ventures, The NFX, Y Combinator, and Forerunners Healthcare Consultants Pvt
Key Investors in Novig
Gaingels
Gaingels is a leading investment syndicate supporting the LGBTQ community and allies, investing in high-growth companies with inclusive teams across various sectors from Seed to Growth/pre-IPO.
Perceptive Ventures
Perceptive Ventures focuses on pre-seed and seed investments in agentic AI startups, aiming to foster innovative technology in the artificial intelligence sector.
The NFX
NFX is a venture capital firm investing in pre-seed and seed stage startups, with a focus on gaming, generative AI, proptech, space, fintech, marketplaces, and crypto, providing software tools and educational resources for founders.
What's next for Novig?
With substantial backing, Novig is poised for significant scaling and further development of its quantitative trading infrastructure. The recent major strategic investment suggests a focus on expanding market reach and enhancing its technological capabilities. Future growth will likely involve solidifying its position in key markets, potentially exploring new betting verticals, and continuing to innovate on its core exchange technology to maintain its competitive edge and profitability.
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