Cape Town-based eating out app, Feastfox, has announced that it successfully closed its angel fundraising round, raising $175,000 (R2.3 million) primarily from Silicon Valley-based angels and VC firms.
A mobile startup out of Stanford University, with a presence in Silicon Valley, Cape Town and Budapest, Feastfox claims to focus on spontaneous eating out with its “book now, eat now” concept.
The venture’s co-founder, Cape Town local, Stuart Murless, said: “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.
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 (backed by the top-tier VC, First Round Capital) 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 $200 million 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 Stuart.
The Feastfox platform claims to have more than 70 restaurant partners including Nobu, Clarke’s, Shio, Mano’s, La Boheme, Sotano and Reuben’s.
The app is currently live in selected areas of central Cape Town.