Cape Town’s Feastfox, an eating out app has raised $175,000 (R2.3 million) angel fundraising round from Silicon Valley’s Co-Creation Capital; Dorm Room Fund and prominent angel investors such as Larry Kubal to focus on its spontaneous eating out with its “book now, eat now” concept.
According to co-founder, Cape Town local, Stuart Murless, “By raising angel funding from exceptional, California-based venture capital firms and angel investors, we proved that it is possible to get early-stage, Silicon Valley financing for a mobile startup in South Africa”.
“We are excited about this successful fundraising as this will further facilitate our growth in Cape Town. These funds will be used for business development and marketing, adding more high-quality merchants while attracting thousands of foodies to the platform.” added Stuart.
Feastfox is following a philosophy that they call “South Africa first”. By proving a new mobile concept in Cape Town first, the venture aims to showcase that South Africa is a perfect first market for new mobile companies that want to validate their idea before starting a global expansion.
Stuart says that Cape Town is very similar to some of the most developed cities globally and by entering South Africa first, we aim to prove to other international startups that Cape Town is an ideal first market for mobile companies with global aspirations.”