Feast­fox gives Cape first bite

Two taps on app will end crav­ings

Weekend Argus (Saturday Edition) - - FRONT PAGE - JOSEPH BOOYSEN

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.

[email protected]

Newspapers in English

Newspapers from South Africa

© PressReader. All rights reserved.