Octopus Raises $10.3m to Fund Future Growth
Octopus Interactive, a startup bringing an interactive TV and ad experience into Uber and Lyft rides, has raised a $10.3 million funding round led by Sinclair Digital Group.
Octopus says it provides drivers with tablets that combine games (which can include cash prizes, and can also be sponsored), ride information (like maps and weather) and advertising in a 13-minute loop. Even if the passenger doesn’t win anything, this could help keep them occupied during a long ride, which could lead to higher driver ratings. And if the passenger isn’t interested, they can just mute the screen.
After launching in 2018, Octopus says it’s now reaching more than 3 million people each month across 10,000 screens in markets like New York, Los Angeles, Chicago and Washington, D.C. By working with Sinclair Digital Group, the startup can bring content from local TV stations onto the platform.
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