In most cases it takes more than patience and perseverance for a startup to gain ground. A startup or an entrepreneur must be willing to toil and make things happen. If not, everybody would be wallowing in the status quo. And that is not good for any business that is just starting up.
As part of CFAtech’s (a leading technology blog) effort to promote Nigerian startups. The media platform has been organizing monthly hangout and pitch sessions (One on One with CFA) . In fact a pitch session will come up on the 22nd of May, 2018.
These pitch sessions have been like a platform for these entrepreneurs to blossom. A typical startup that has gotten limelight is MyPadi. A startup that is focused on solving student accommodation. MyPadi pitched and got a slot on Channels TV for a One on One with CFA. Since then, MyPadi has received some level of attention from investors. Not necessarily because of the interview, but to some extent it did.
Meanwhile, I vividly recalled that Touchabl, a Port Hacourt based startup had the pitch session alongside the likes of MyPadi and others. Touchabl didn’t win the contest. But since then they have been involved in some other pitch sessions.
Just last week, the AI based picture touching and identification App, secured seed funding of US$ 20,000 for product development and aggressive marketing.
Touchabl which launched officially in October 2017 and reached a milestone of 1k users in February, had previously received equity-free funding from Ibom LLC at StartupSouth 3 and from Office of ICT Innovation & Entrepreneurship (OIIE) – a subsidiary of NITDA – at the Startup Friday in Uyo.
How Touchabl Works
Touchabl is like a “Shazam for pictures”, allows a user that sees something they like – such as a dress, shoe or wristwatch. In any picture, whether on their timeline in the App or in their phone photo gallery, to simply touch it and receive more information about it.
Techative reported that Gabriel Eze, Touchabl CEO revealed that the funds will be used for product development and product marketing.
“Since launching in public beta, we have collected some interesting feedback and have significantly modified our technology and value proposition. We will build upon our technology using this feedback” he said.
The funding comes from Hubly (formerly Genesys Tech Hub), through their Genesys Start zone program, an “incubator for promising startups that provides them with the necessary support to grow and thrive in a competitive world”.
Hubly will also provide the Touchabl team with training, mentorship and critical personal feedback to position them into becoming a hugely successful business. This will last for a 6- month period and is actually a condition for funding.