Data Broker Oamo Launches with Pre-seed Investment

In Canada, decentralised data broker Oamo has launched from stealth with a (USD) $1.25m pre-seed investment, which it will use to expand its team and product.

Founded last November by CEO Yannick Folla and CTO Ahmed Hadjeres, Oamo aims to make it possible for individuals to monetize their data and build direct relationships with companies while remaining anonymous; sharing their data with companies in exchange for exclusive token rewards and promotions. Businesses can use this data to create data pools with specific attributes of their target audience, and then send tailored promotions and surveys to data pool participants directly through Oamo's messaging system.

New funding comes from White Star Capital. In an interview with online publication BetaKit, Folla commented on the launch: 'The data brokerage industry has been built on the principle that our data should be acquired and monetized against our will and without our knowledge so that any company can target us with unwelcomed ads. We believe the industry is ready for a change, shifting back control to individuals when it comes to their personal property - their data.'

Web site: www.oamo.io .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.