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Startup news

  • SA animation studio Triggerfish gets fresh funding for new projects

    South African digital animation studio Triggerfish has just secured a fresh round of funding that will allow it to start development on five new projects. Best known for the feature films Zambezia and Khumba the studio has made something of a name for itself on the international film scene. With that attention has come serious funding. At the beginning of 2013, it received a multi million Rand investment from Spier Film for the development of Khumba. The development funding was secured from Business Partners’ Venture Fund -- a specialist risk finance company for formal small to medium enterprises in South...

  • Futurelytics raises $800K, get more from customers with its smart data

    Big data is fast dethroning mobile as the most spoken about and sought after industry in the tech world -- and with that follows the money. Czech-based Futurelytics Inc. -- a prescriptive analytics platform that helps companies extract value from their data -- has received seed funding to the value of US$800K, proving that making sense of data is a viable space for startups to add value. The financing round was co-lead by Index Ventures and Credo Ventures. Other investors include Kima Ventures and business angel -- former CEO of FizzBack -- Rob Keve. According to the company, Futurelytics...

  • Zomato raises 37-mil, now caters to Brazil, Indonesia, Turkey

    Indian-based online restaurant guide Zomato is not slowing down in its expansion plans. After launching in South Africa earlier this year it has now extended its reach to Brazil, Indonesia and Turkey, hot off the back of a new round of funding to the value of US$37-million. The new round of funds sees global VC firm Sequoia Capital come on board as a new investor, joining existing investor Info Edge which previously injected US$16.5-million into the dining guide service. The new round takes Zomato's total funding to over US$53-million. Zomato, which provides key restaurant information such as menus, geo-coded maps, photographs,...

  • Less mob, more design niche: Citymob re-launches as ‘Superbalist’

    Citymob recently re-launched or, in company words, underwent a "natural evolution with a bit of revolution" and now goes by the name Superbalist. The site went live 4 November with a cleaner feel (hence the logo) and a greater focus on its permanent offerings as well as international brand distribution. "We've cleaned things up. Decluttered, upgraded to a more sophisticated look and made it a little simpler. We've changed our whole set-up to tailor it more to the individual with an easy-to-navigate layout," the site reads. Furthermore, the company scaled-up from a .co.za to a .com domain and is...

  • Rocket Internet’s Mexican ecommerce site Linio receives new 50M investment

    Linio, a Mexico City-based ecommerce startup that is currently one of the leading and fastest growing in Latin America, has announced new investment from Latin Idea -- a prominent Mexico-based private equity fund. This round saw Latin Idea join existing investors (namely: JP Morgan Asset Management, Investment AB Kinnevik, the Tengelmann Group, Summit Partners, and Rocket Internet) in injecting a total of US$50-million in fresh capital for Linio. CEO of Linio, Andreas Mjelde, had this to say on the new investment: "We are delighted to have secured this new round of funding, which will allow us to continue our growth trajectory in...

  • Meet MonteGray Capital, Michael Jordaan’s new startup investment vehicle

    We always knew it was likely that Michael Jordaan's post-FNB career would include startups. Now we can confirm that this is actually the case and we can put a name to the investment vehicle he'll be heading up: MonteGray Capital. The company, which is based in Stellenbosch, will reportedly open its doors in January 2014 and begin investing in disruptive technologies and business models. To start, there will only be two staff members: Jordaan himself and Atka Young, a credit analyst at FNB South Africa. This, Jordaan told Business Tech, is because he wants to keep the operation as lean...

  • Gust Pay gives us a glimpse of how its app, NFC wristbands fared at Rocking the Daisies

    A few weeks back, we told you about the app Stellenbosch-based startup Gust Pay had built for the Rocking the Daisies music festival, as well how it planned to implement its NFC payment system. Now, we can give you a little bit of information on how they fared. The app was designed to take advantage of advanced navigation smartphone features and sensors to guide festival-goers around the venue, while the NFC payments system allowed them to pre-load money onto wristbands in a bid to avoid the hassle of carrying cash around. According to an official blog post from Gust...

  • Microsoft to announce incubation partnerships at DEMO Africa

    DEMO Africa is one of the continent's biggest startup events, so it tends to attract the odd news announcement from big players and investors. The latest will see Microsoft announcing a series of partnerships with a number of African incubators. According to the tech giant, it has inked strategic cooperation agreements with three incubator organisations across the continent, namely:CcHub in Nigeria, DTBi in Tanzania and AfriLabs -- the pan-African hub network. It adds that these agreements, which have been signed under the 4Afrika Initiative, are designed to further its commitment to accelerating SME growth and local innovation. The...

  • Rocket Internet moving EasyTaxi to the Middle East

    Right now, there is no investment group or incubator more aggressive in terms of growth and expansion than Rocket Internet. The company has announced that it will be taking Brazilian taxi app, Easy Taxi, into the middle with a US$7-million investment from iMENA, a mobile application business in the Middle East. Easy Taxi was launched by Rocket Internet in 2011 and was recently launch in Lagos, Nigeria in the company's move to Africa. The app allows passengers to order cabs from using their mobile (Uber style). The app says it connects drivers and passengers in a smooth, easy and...

  • No slowing down for Uber: luxury car service now finally in Durban

    In a recent blog post, popular US-based luxury transport startup Uber announced the further rolling out of its services in South Africa by opening up shop in Durban. "Living in Durban just got better today" reads the site. The luxury car for hire startup launched its service in Johannesburg two months ago followed by a similarly stealthy launch in Cape Town a few weeks after. The San Francisco-based startup has swooped into South Africa with a larger focus on emerging markets across the globe as it launched Bangalore and Dubai around the same time it entered SA. Uber...