Strove, a South African employee wellness startup, has received R4 million (US$277k) in seed funding from Launch Africa, a venture capital firm. The funding comes after The Delta, a venture builder, introduced the first product in January.
“We are really excited about this capital raise for Strove,” CEO of The Delta, Louis Buys, said in a statement.
“The raise is great validation for our model at Delta of supporting and accelerating ventures from 0 to 1, and furthermore being able to do this at a scale of nearly 10 ventures per quarter.”
A Look At What The Startup Does
Strove was founded in 2020 by Chris Bruchhausen in collaboration with The Delta. The app is an activity-based rewards software that allows businesses to incentivize their staff to be healthy and fit. Its goal is to help employees deal with difficulties including inactivity, burnout, and chronic stress. Employees can download the app and create accounts if a company joins Strove. Employees then connect their workouts and keep track of stats like activity duration, calories burnt, and distance traveled.
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“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,” Bruchhausen said.
They can also accumulate points that can be used for rewards from partner companies. Old Khaki, Poetry, Mugg & Bean, Engen, Vida e Caffè, and Bootlegger Coffee are among Strove’s reward partners in South Africa.
Strove intends to grow into the United Kingdom following the investment round. It has started recruiting partners in order to build a rewards ecosystem for UK employees.
Strove wellness Strove wellness
Charles Rapulu Udoh
Charles Rapulu Udoh is a Lagos-based lawyer who has advised startups across Africa on issues such as startup funding (Venture Capital, Debt financing, private equity, angel investing etc), taxation, strategies, etc. He also has special focus on the protection of business or brands’ intellectual property rights ( such as trademark, patent or design) across Africa and other foreign jurisdictions.
He is well versed on issues of ESG (sustainability), media and entertainment law, corporate finance and governance.
He is also an award-winning write