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  • DoshEx launches property investment crowdfunding service for SA investors

    SA blockchain startup DoshEx has launched DoshProp, a new property investment crowdfunding service which allows ordinary South Africans to invest in property — and the startup is offering investors a 20% return over 18 months to 24 months in an Australian property development.

    DoshEx CEO Alex de Bruyn (pictured above) said in a statement on Sunday (13 October) that The Paradiso, to be constructed in the upmarket Como district of Perth in Western Australia, promises a 20% return on investment over 18 to 24 months.

    Every DoshEx user will get the chance to invest in a luxury apartment complex for only R100 per share.

    “However, shares are limited and are expected to be snapped up when the offer is released to global traders on 1 November,” he said in the statement.

    DoshEx users will get the chance to invest in a luxury apartment complex for only R100 per share

    He said as the investment is through a publicly registered SA company, Paradiso COMO Limited, the public can avoid the constraints of SA foreign exchange regulations.

    Hosted on blockchain

    The fund is hosted on blockchain trading technology, “which is immutable and tamper resistant”, said De Bruyn.

    In addition, DoshEx, he said, will be partnering with Edgars Club to bring DoshProp to its over 400 000 members.

    “The retail giant has recognised the potential in offering its customers this innovative approach to inclusive wealth creation. Plus, Club members will enjoy additional rewards.” he said in the statement.

    The Johannesburg startup launched its exchange platform in August last year. The platform is aimed at assisting those the startup helps develop cryptocurrency and blockchain solutions to buy and sell digital tokens.

    The startup secured an undisclosed investment from SA angel investors based in Australia in return for a 20% stake in the company. In December last year De Bruyn told Ventureburn that his startup had already done work for Virgin Money SA (see this story).

    Mulling further investment opportunities

    De Bruyn told Ventureburn in a call on Tuesday (15 October) that DoshEx is looking at a number of other property opportunities through its DoshProp service. One of these is in South Africa, while two are offshore.

    “They’re still in our regulatory and review stage,” he added, explaining that the company is assessing whether the investments comply with exchange control and securities trading regulations.

    De Bruyn pointed out he and his team had spent “numerous hours” with the Companies and Intellectual Property Commission (CIPC) and Financial Sector Conduct Authority (FSCA) to ensure the offering is in keeping with regulations.

    He said thus far, the company has received “quite a lot” of interest since announcing the new investment offering on Sunday. Most of the interest had come from fund managers that look after investments for those who are not high net-worth individuals, he added.

    Read more: Blockchain fad is wearing off says man behind Jozi crypto startup DoshEx

    Featured image: DoshEx CEO Alex de Bruyn (Facebook)

    The post DoshEx launches property investment crowdfunding service for SA investors appeared first on Ventureburn.

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  • Here are five SA hardware startups making waves in 2019

    More than many other kinds of businesses, startups that develop hardware solutions arguably face more challenges bringing their solution to market.

    The sheer amount of time and money spent on research and development of these solutions, and in some instances issues with regulation, are a few of the reasons it takes hardware products longer to launch than that of their software-only counterparts.

    It goes without saying that establishing, raising funding and running such companies is no easy feat.

    In light of this, Ventureburn has identified five SA hardware startups that have made waves this year.

    IoT.nxt

    Pretoria-based IoT.nxt focuses on delivering innovative IoT software and hardware solutions. The startup is led by CEO Nico Steyn (pictured above) who founded the company in 2015 with Terje Moen and Bertus Jacobs.

    IoT.nxt’s open platform network enables users of the platform to carry out rapid software development and integration.

    The startup is also partnering with tech giant Dell to develop an IoT-in-a-box solution using IoT.nxt’s Raptor Device.

    In May, mobile network operator Vodacom acquired 51% of the startup for an undisclosed amount (see this story). The deal was approved by the Competition Commission in August (see this story).

    In September last year the startup set up a US office in Dallas. This followed the opening of an office in The Hague, in the Netherlands in February last year and a partnership the startup secured with listed Dutch company ICT Group NV.

    Previously the startup raised R120-million in two rounds — from Talent10, a Midrand-based asset management company which at the time of the Vodacom deal held a 30% stake in the startup.

    About 70% of the startup’s revenue last year came from SA businesses based in 16 different verticals including the mining, banking, ports and telecommunication among others. The remainder came from US customers.

    The startup has seen massive growth — at least if employee growth is anything to go by. The company has grown to about 150 employees, after having started in late 2015 with just five people, adding about 40 jobs since the end of last year.

    IoT.nxt expects to double its staff numbers by the end of this year, mostly through new local hires.

    Plentify

    Cape Town based smart solar geyser startup Plentify was founded in 2017 by Jon Kornik (pictured above).

    Earlier this month the startup won the SA finals of the EDF Pulse Africa innovation contest (see this story).

    Plentify has developed a solution which turns turns water heaters into grid-connected thermal batteries which intelligently “recharge” when electricity is abundant on the grid.

    By doing so, Plentify improves reliability, decreasing reliance on dirty, expensive generation, which saves households more than 50% of their water heating costs.

    The startup does this with an easy-to-install Internet of Things (IoT) controller, a user friendly mobile application and a cloud-based artificial intelligence (AI) engine which turns each water heater on or off, based on the needs of the user and the grid.

    Plentify will now participate in the grand finale of the contest which will be held in Paris next month where it stands to receive grants ranging from €5000 to €15 000.

    Featured image, left to right: Sentian founders Trevor Lewis and Tigue Little (Supplied)

    Sentian

    Also based in Cape Town, Sentian develops smart security technology products.

    The startup was founded in 2013 by Tigue Little and Trevor Lewis (pictured above, left and right, respectively) after the two engineers were personally affected by home break-ins.

    Sentian’s flagship product, is the Sentian 3i, which it launched in 2017. The product is an Internet-of-Things (IoT) smart hub that physically connects to existing intruder alarm systems, CCTV cameras and home automation systems, making them smart and easy to control.

    Essentially the product places a “virtual control room” in the hands of property owners.

    When an alarm is triggered, the Sentian i3 detects which motion sensors were activated and using corresponding camera coverage it immediately sends a 12-second video verification clip to a user’s phone through an app.

    Sentian 3i units cost between R9 495 and R12 995, with an ongoing monthly cloud subscription fee of between R169 and R269 which is dependent on the scale of the installation.

    Last month, the startup secured an undisclosed round of funding from Johannesburg-based Imfezeko Investment Holdings (see this story).

    Little said at the time that the investment will enable Sentian to expand its current reach as well as gain access to new market opportunities.

    Towards the middle of next year, Sentian plans to launch a new product range which will cost significantly less than the Sentian i3 and will service the middle income security market.

    Earlier this month, Little said the startup employed a team of four permanent staff as well a handful of temporary contractors and that it was looking to hire two more employees.

    In 2016, Sentian raised a “multi-million rand” seed investment from WooThemes co-founder Mark Forrester.

    Since that seed round Sentian has focused on building its technology platform to support its rapidly expanding B2C business, as well as streamlining its independent installer channel support infrastructure.

    The startup was last year selected to be a part of the fourth Grindstone accelerator cohort (see this story).

    Featured image, left to right: Jonga co-founders Ntsako Mgiba and Ntando Shezi (LinkedIn)

    Jonga

    Jonga is a Cape Town based security startup that was founded in 2016 by mechatronics engineer Ntsako Mgiba and business science graduate Ntando Shezi (pictured above, left and right, respectively).

    The startup has developed a low-cost home monitoring security system which consists of an Internet of Things (IoT) motion sensing device and a mobile app.

    Jonga claims it has manufactured and tested working prototypes in Khayelitsha, Cape Town. It is not clear how many of these devices have been deployed or whether they have been able to reduce the incidence of burglaries when deployed.

    When triggered, and after confirming with the owner that the alarm is genuine, the devices send notifications to members of an owner-built distribution list which can include neighbours, family, police and security firms.

    In August, the Savant Venture Fund — the venture capital arm of Cape Town hardware incubator Savant — invested an undisclosed amount in the startup.

    At the time, Jonga’s founders said they intend to use the investment to manufacture about 1000 devices for its market launch, gain market traction and to finance a commercial proof-of-concept which the startup hopes will help it to facilitate more venture capital investment.

    Mgiba said the devices will cost R600 a unit, with an added R70 per-month subscription fee which covers maintenance and data costs.

    Before its latest deal, Jonga — which joined Savant in 2016 — had raised R1.9-million in seed and angel funding.

    The startup’s investors include the Technology Innovation Agency (TIA) and angel investors Dale Williams, Melvyn Lubega and Mark Forrester.

    Smartblade

    Smartblade is a Cape Town based medtech startup founded in 2016 by husband and wife duo Nick Nevin (who serves as managing director) and specialist anaesthesiologist Dr Caroline Corbett (pictured above).

    The startup has developed a device, which consists of a smartphone app that is linked to a video laryngoscope, that enables single operators of varied skill levels to intubate difficult airways.

    In June, the startup raised R9.5-million from Savant to acquire moulds to manufacture its device and to attain certification which includes US Food and Drug Administration (FDA) registration (see this story).

    At the time the funding was announced, Nick Nevin said the startup had begun independent mannequin trials with an international airway expert and added that clinical trials would soon follow.

    The startup has raised around R2-million in funding since launch. This includes self-funding, prize money, angel investment, government seed funding through the TIA and the Small Enteprise Development Agencey (Seda).

    Smartblade intends to manufacture the device locally and the startup has said that consumer and non-consumer markets have been requesting orders for the device.

    It’s not yet clear how much the device will cost, however Nevin has said the price point will be “very competitive and certainly affordable” to the individual clinician, or end user. This, he said will be “a first” for a device of this type in this market space.

    Dr Corbett is one of the nominees in the Tech Entrepreneur Award category at the 2019 Africa Women Innovation and Entrepreneurship Forum (Awief) Awards which will be held in Cape Town next Wednesday (30 October).

    Read more: Vodacom acquires 51% of SA startup IoT.nxt [Updated]
    Read more: Smart solar geyser startup Plentify wins EDF Pulse Africa SA
    Read more: SA startup Sentian raises funding to help expand market for its IoT security device
    Read more: Savant Venture Fund invests in security device startup Jonga [Updated]
    Read more: SA hardware tech incubator Savant invests over R9m in medtech startup SmartBlade

    The post Here are five SA hardware startups making waves in 2019 appeared first on Ventureburn.

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  • Tshimologong Precinct invites growing black tech firms to enter TechAccel programme

    The Tshimologong Digital Innovation Precinct, together with IBM is calling on black owned growth-stage startups to participate in this year’s TechAccel programme, a high-impact accelerator designed specifically for growing tech companies.

    The programme was created to enable the development of growth-stage tech startups, using a bootcamp format that will run over five weeks, from 3 February to 6 March 2020.

    The incubator programme will also focus on helping startups improve their skills and overall business efficiency so that each can focus on the most important aspects of growing its venture.

    Applications close date on 15 November.

    The TechAccel Programme will culminate in an investment proposal and pitch. The winning participants earn an investment of up to R500 000 in required products and services.

    Tshimologong Precinct’s TechAccel programme is designed specifically for black owned growing tech companies

    To win the prize, the tech startups need to demonstrate how the investment will be used to accelerate the business.

    The competition is open to technology companies, which are defined as entities whose main focus of business is on the development and manufacturing of technology, or providing technology as a service, as opposed to tech-enabled companies which primarily deliver a service using technology.

    Interested participants need to ensure that the business has a minimum of one-year trading as a registered entity with the Company and Intellectual Property Commission (CIPC)

    The growth-stage tech startup should be black South African owned and managed. Turnover needs to be between R120 000 to R50-million per annum and the owner must be actively involved in the business.

    The post Tshimologong Precinct invites growing black tech firms to enter TechAccel programme appeared first on Ventureburn.

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