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.<\/p>\n
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 \u201cbook now, eat now\u201d concept.<\/p>\n
The venture\u2019s co-founder, Cape Town local, Stuart Murless, said: \u201cBy 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.<\/p>\n
The funding comes from angels and venture firms including\u00a0Co-Creation Capital\u00a0<\/strong>(an early-stage Silicon Valley VC fund founded by serial entrepreneurs);\u00a0Dorm Room Fund\u00a0<\/strong>(backed by the\u00a0<\/strong>top-tier VC, First Round Capital) and prominent angel investors such as\u00a0Larry Kubal\u00a0(founder and managing partner of Labrador Ventures, a seed stage-focused Silicon Valley venture fund with more than $200 million under management).<\/p>\n \u201cWe 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.<\/p>\n The Feastfox platform claims to have more than 70 restaurant partners including Nobu, Clarke\u2019s, Shio, Mano\u2019s, La Boheme, Sotano and Reuben\u2019s.<\/p>\n The app is currently live in selected areas of central Cape Town.<\/p>\n
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