South African Health-tech Startup Strove Raises New Funding
Strove, a health technology start-up located in Cape Town, is getting ready to grow its operations after successfully concluding its most recent investment round, which was headed by a venture capital (VC) fund from Japan called Lifetime Ventures.
A statement claims that the capital raise, the amount of which has not been disclosed, would assist to the acceleration of software development as the team continues to create its platform for holistic wellbeing.
“We are excited to have closed our funding round in a challenging funding environment. This raise allows us to further develop our product and service offering, as we strive towards our mission of improving the holistic wellbeing of employees around the world,” Strove CEO Bruchhausen explains.
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Why The Investor Invested
“COVID-19 has highlighted deteriorating employee wellbeing and a strong need for holistic well-being programmes,” says Koshu Kunii, general partner of Lifetime Ventures. “We see a global corporate future where most companies provide group-based employee well-being programmes as part of holistic employee benefits to support employees from the prevention phase. With strong C-level and execution to date, we know Strove will be a leading player in this market.”
Lifetime Ventures is an investment firm that backs aspirational company owners in the hopes of helping them build successful enterprises. The venture capital business claims that the exciting potential for future collaboration is made possible by its strategic alliance with Okinawa Institute of Science and Technology Graduate University, which is Asia’s leading scientific research university.
A Look At What The Startup Does
Chris Bruchhausen, a former triathlete and graduate of a business science programme, established the activity-based web and mobile application in the year 2020. It gives companies the ability to combat inactivity, burnout, and chronic stress by inspiring their employees to live a healthy and active lifestyle.
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The organisation that focuses on employee wellbeing has said that it is on a mission to make workplaces all around the world into healthy environments.
The start-up company, having established a solid presence in the South African market, made the announcement in June that it will be expanding internationally and opening an office in the United Kingdom.
Soon after the expansion, the firm went online with its first British customer, and they vow that they will grow the number of lives they touch by scaling up their digital technology.
The health technology start-up intends to make significant improvements to its mental health offering in the near future. These improvements will include the addition of more comprehensive material, cognitive behaviour therapy courses, and an in-app coaching function.
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Other changes include the introduction of additional connectors for activity monitoring, the incorporation of a recommendation engine to assist in the personalization of wellness counsel, and the ongoing improvement of the app’s usability.
Strove health
Charles Rapulu Udoh
Charles Rapulu Udoh is a Lagos-based lawyer, who has several years of experience working in Africa’s burgeoning tech startup industry. He has closed multi-million dollar deals bordering on venture capital, private equity, intellectual property (trademark, patent or design, etc.), mergers and acquisitions, in countries such as in the Delaware, New York, UK, Singapore, British Virgin Islands, South Africa, Nigeria etc. He’s also a corporate governance and cross-border data privacy and tax expert.
As an award-winning writer and researcher, he is passionate about telling the African startup story, and is one of the continent’s pioneers in this regard. You can book a session and speak with him using the link: https://insightsbyexperts.com/view_expert/charles-rapulu-udoh