A Cape Town start-up has secured $175 000 (about R2.3m) in angel fundraising from Silicon Valley-based firms.
Feastfox, a spontaneous restaurant booking app, secured the funding through co-founders Daniel Petz, who had been studying an MBA at Stanford University in the United States, and had 'access to networks of US-based investors'.
Co-founder Stuart Murless told Fin24 that when the app soft launched in July, it already had 60 to 70 restaurants on-board.
“With a busy lifestyle, I never had time to plan ahead and make bookings. I wanted something which fits into the way I eat out, which is generally on impulse. With Feastfox, we are moving from the traditional 'book now, eat later' concept to 'book now, eat now'. This way you can go from craving to feasting with the tap of a button,” Murless explained.
Feastfox now has roots in Silicon Valley, Budapest and Cape Town.
“We picked Cape Town for the launch because of the high concentration of incredible restaurants, the sophistication of the local dining out scene and the openness to new, mobile solutions,” added Stuart.
The launch area includes the CBD, V&A Waterfront, De Waterkant, Green Point, Sea Point, Gardens, Vredehoek & Tamboerskloof.
Most recently another Cape Town start-up, Sweep South, received a significant revenue boost from Silicon Valley firms, to grow its cleaning service business, as well as backing from DJ superstar Black Coffee.
SweepSouth is an online platform which aims to make it easy to book, manage and pay for home cleaning services by using a laptop, phone or tablet; it also connects clients with efficient and reliable cleaners.
The company recently received a major cash injection of an undisclosed amount from Smollan, a South African-based international retail solutions company, as well as from DraperDarkFlow, a Silicon Valley venture capital fund for Africa established by Tim Draper.
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