Team StartupCity

• The prediction markets startup is in advanced discussions to secure fresh capital, with the round still under negotiation and terms subject to change.
• Sources indicate Accel may join the round, though the investment has not been finalized and discussions are continuing.
• Agara plans to prioritize Southeast Asia while building a platform designed for wider global participation.

Prediction markets startup Agara is in discussions to raise more than $7 million in a new funding round, according to people familiar with the matter. The round is still being negotiated, and terms may change as talks continue.

Sources said Accel is expected to invest in the round, with the company seeking a post-money valuation of around $25 million. However, the deal has not been finalized yet. Responding to media queries, Co-founder Nikhil Ramesh said the details shared were incorrect, while Accel has not commented on the discussions.

Founded by Nikhil Ramesh and Manasjoti Saloi, Agara is building an opinion-sharing and prediction markets platform that will allow users to earn money by forecasting outcomes of future events. The platform is expected to cover a wide range of categories, including sports, entertainment, politics, weather, culture, technology, and crypto.

The founders bring strong experience in AI and consumer technology. Ramesh previously worked as an AI Resident at Accel, while Saloi spent over six years at GoTo Group as vice president of product management, where he led large-scale consumer products across transport, logistics, commerce, and grocery.

Agara plans to focus initially on Southeast Asia, while designing the platform for broader global participation. The company is also expected to introduce features such as local and context-driven markets, along with advanced formats like parlays and leveraged predictions.

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The development comes at a time when India’s real money gaming and opinion trading sector is under tighter regulatory scrutiny. Several platforms shut down real money operations in India last year following regulatory action.

Globally, prediction market platforms continue to gain traction in regions with clearer regulations. Companies like Kalshi and Polymarket have seen rising adoption, highlighting growing interest in market-based forecasting models. Agara aims to tap into this trend with a region-first, globally scalable approach.