# Receet

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/receet

- Industry: Software
- Headquarters: Cincinnati, US
- Website: www.getreceet.com
- Latest round: Seed (Mar 3, 2020)
- Investors on record: 2

## About

Receet, Inc. offers real-time lottery results and live draw services tailored for the Hong Kong lottery market, focusing on enhancing the betting experience for players and bettors through accurate data delivery.Founded in 2017 and headquartered in Cincinnati, US, Receet, Inc. specializes in providing live draw results for the Hong Kong lottery market. The company has undergone a focused strategy to cater to players in Indonesia, where access to the official Hong Kong Pools site is limited. Omar Barkawi, the founder and current CEO of Receet, Inc., has a history of entrepreneurship. The company has completed 2 funding deals, with the most recent in March 2020, which was a SEED funding round led by Ibtikar Fund with participation from Palestine Telecommunications (Paltel) Group.Receet, Inc. specializes in offering real-time results and live draw services for the Hong Kong lottery market, particularly targeting bettors interested in 4D betting games. The core offering includes live updates of lottery results sourced directly from the official Hong Kong Pools website, ensuring accuracy and timely reporting. This service aims to enhance the betting experience by delivering immediate data on winning numbers and outcomes, primarily serving lottery players in Indonesia who require reliable access to this information.Receet, Inc. generates revenue through its online platform, providing real-time lottery results and related information to users. Clients access the service directly, potentially generating revenue through advertising and partnerships with gaming services. The company operates mainly on a B2C model, allowing individual bettors free access to live draw results. While specific pricing for any premium features is not disclosed, Receet focuses on delivering timely updates and historical data to assist bettors in their decision-making processes.Receet, Inc. aims to expand its offerings by potentially introducing new products designed to enhance user engagement in the coming months. The company is also considering geographical expansion into additional markets across Southeast Asia by the end of 2023. The recent SEED funding round raised in March 2020 will be utilized to support these initiatives, facilitating product development and market entry efforts.

## Funding rounds

- Seed, Mar 3, 2020 — Ibtikar Fund, Palestine Telecommunications (Paltel) Group

## Investors

- Ibtikar Fund (https://capitalatlas.ai/funds/ibtikar-fund) — Seed
- Palestine Telecommunications (Paltel) Group — Seed