SpringLab
Cape Town, South Africa
About
Funding Information
Springlab generally invests between R200,000 to R2 million per venture for considerable equity. They have been backed by private angel investors and are open for direct equity or convertible loan investments into the incubator and portfolio companies. The incubator provides seed capital and resources to qualifying startups.
Description
Springlab is a technology incubator and Joint Venture partner headquartered in Cape Town, South Africa. As a venture builder in Sub-Saharan Africa, they build lean startups that solve real-world inefficiencies. They co-found every single venture they invest in, taking them from birth to early stages until they can operate independently. Unlike traditional VCs, Springlab takes a flexible approach with exit timelines, allowing companies the space to grow and become profitable. They focus on building valuable companies fast with solid business models that lead to ongoing, sustainable profitability and growth.
Other Description
Founded by Eugen Petersen (ex-Rocket Internet alum and co-founder of Zando) and Sheraan Amod (co-founder of Personera), with strategic advisor Randolf Jorberg Location: Observatory, Cape Town, South Africa Founded: 2014 Not interested in e-commerce startups or capital-intensive business models requiring huge sums for product development Core functions provided: marketing, software development, administrative functions, strategy, product development, online marketing, sales, and later-stage fundraising Offers state-of-the-art office space and co-working facilities in Cape Town Also facilitates market entries by international Internet companies into Africa through Joint Ventures Focus on helping startups maintain lean cost structure while focusing on early revenue generation Team size: 219 followers on LinkedIn, described as a small superstar team
Focus Areas
Industry Focus
Portfolio
1. RecoMed - A medical bookings platform that helps people find the best doctors nearest to them and book appointments, with over 4,000 doctors listed and more than 14,000 monthly visits 2. SpringGeist - One of their backed ventures (limited information available)