Novig Raises $75 Million In Series B Led By Pantera Capital Valuing Company At $500 Million

Novig has raised a $75 million Series B led by Pantera Capital, with participation from Multicoin Capital, Makers Fund, Edge Equity and existing investors Forerunner Ventures, Perceptive Ventures and NFX, valuing the company at $500 million as it looks to challenge rivals like Kalshi and Polymarket. The company is targeting the $2 trillion global sports betting market, which it argues is technologically outdated and structurally inefficient, dominated by sportsbook models that pit bettors against the house, rely on hidden fees and unfavorable odds, and limit or ban winning players; founded by Jacob Fortinsky and Kelechi Ukah, Novig operates a commission-free, peer-to-peer exchange designed to remove the middleman and deliver better odds, and has submitted an application to the CFTC to become a regulated exchange available in all 50 states. FOUNDERS: Jacob Fortinsky & Kelechi Ukah INVESTORS: Pantera Capital, Multicoin Capital, Makers Fund, Edge Equity, Forerunner Ventures, Perceptive Ventures & NFX ROUND: Series B AMOUNT: $75,000,000 VALUATION: $500,000,000 HQ: New York City, New York. #VentureCapital #Novig #JacobFortinsky #KelechiUkah #TradedVC