Cape Town-based tech start-up Strove has raised R4 million in seed funding to expand operations globally, with the UK as its first target.
Strove, an employee wellness app, yesterday announced the new funding led by venture capital firm Launch Africa, as well as plans to explore international opportunities.
The start-up, founded in 2020 by Chris Bruchhausen together with venture builder The Delta, plans to expand into the UK, and has already started onboarding local partners in the European country.
Strove is an activity-based mobile rewards app that empowers organisations to inspire their employees to live a healthy and active life, combatting inactivity, burnout and chronic stress.
The company says it uses activity-tracking and gamification to incentivise employees, with rewards coming from over a dozen partner brands, such as Old Khaki, Poetry, Bootlegger Coffee, Mugg & Bean, Dis-Chem, Vida e Caffè and Engen.
Louis Buys, CEO of The Delta, says: “We are really excited about this capital raise for Strove. The raise is great validation for our model at Delta of supporting and accelerating ventures from zero to one, and furthermore, being able to do this at a scale of nearly 10 ventures per quarter.”
He says Strove has been a huge success and a worthy addition to the venture builder’s portfolio, which includes Revio, Hero Collect and Priv, a privacy platform for GDPR compliance.
“The Delta was one of the first investors when we started the company and they have been an amazing tech partner to us since inception,” adds Bruchhausen.
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