Pick n Pay has revealed that Smart Shopper customers have not redeemed R200 million worth of points in the last twelve months. The retailer…
Nitrous.IO, Action.IO’s software development platform and key product, just got US$1 million in seed funding from a handful of VC firms in Silicon Valley including Bessemer Venture Partners, Draper Associates, CrunchFund, 500 Startups, TIBCO Software, and individuals like Eduardo Saverin and Prosper Nwankpa.
The whole idea behind Nitrous.IO is to help “developers create a development environment in the cloud in a matter of seconds.” If I have a developer team and I want to build and implement a software product, it always takes a lot of time to find, download, set up, and install code on all my machines to create the product. It’s always a long, annoying and repetitive (and maybe even error-prone) process. This slows down software teams and costs money. And it costs even more money to do this for bigger software projects. Thus, what Nitrous.IO is building is potentially a huge, multi-million dollar market. And putting all this in the cloud is a huge leap forward.
In addition to the US$1 million, Nitrous.IO is adding Tobias Lutke, founder of Shopify, and Joe Stump, founder of Sprint.ly and SimpleGeo, to their advisory board.
It seems Asian tech startups are getting closer and closer to Silicon Valley, with Greengar becoming the first Vietnamese company accepted into 500 Startups and of course Baidu opening up its Deep Learning Lab in California – and now all this attention for Singapore’s Action.IO. Are we witnessing a new trend of Asian startups in Silicon Valley?
Check out the video for further reference on how the product works.
This article by Anh-Minh Do originally appeared on Tech in Asia, a Burn Media publishing partner.