Feastfox gives Cape first bite
Two taps on app will end cravings
CAPE Town’s recently launched eating-out app, Feastfox, has secured funding worth R2.3 million from a Silicon Valley-based venture capital firm.
The firm announced this week it has successfully closed its angel fundraising round, raising $175 000 (R2.3m) primarily from its Silicon Valley-based angels and venture capital firms.
Feastfox is a mobile start-up out of Stanford University, with a presence in Silicon Valley, Cape Town and Budapest and approaches dining experiences from a new perspective, focusing on spontaneous eating out with its “book now, eat now” concept.
The venture’s co-founder, Cape Town’s Stuart Murless, said by raising angel funding from exceptional, California-based venture capital (VC) firms and angel investors, “we proved it is possible to get early-stage, Silicon Valley financing for a mobile start-up in South Africa”.
Murless said Feastfox was 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.
“Cape Town is very similar to some of the most developed cities.
“By entering South Africa first, we aim to prove to other international start- ups that Cape Town is an ideal first market for mobile companies with global aspirations.”
The funding comes from angels and venture firms including Co-Creation Capital (an early-stage Silicon Valley VC fund founded by serial entrepreneurs), Dorm Room Fund and prominent angel investors such as Larry Kubal, founder and managing partner of Labrador Ventures, a seed stage- focused Silicon Valley venture fund with more than $200m under management.
“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,” said Murless.
Wesgro chief executive Tim Harris, said the group would like to congratulate Feastfox on their tremendous fundraising effort.
“Over the years the Cape has become a booming incubator for South Africa tech companies thanks to our skills pipeline, access to the rest of the continent and investors. This investment continues to confirm Cape Town’s role as the tech investment capital of Africa, and we look forward to working with Feastfox to grow its footprint across the country and eventually the continent.”
Murless said most meals were spontaneous events that occurred when the need arises.
“Whether it be the craving of a morning flat white, healthy and scrumptious lunch between meetings or an incredible fine- dining experience, with two taps on the app Feastfox has you covered.
“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 click of a button.”
Feastfox is accessible in collaboration with at least 70 restaurant partners including Reuben’s, Kyoto Gardens Sushi, La Boheme, Nobu, Culture Club Cheese, Clarke’s, Hokey Poke, Scheckter’s Raw and Shio.