Fenox is delighted to announce that we have invested in four Y-Combinator from the class of Summer 2013 demo day (YC S13), and they are Regalii, Butter Systems, Meta and a music technology startup, whose name remains undisclosed. These startups were selected for their strong growth potential and alignment with our investment strategy.
Regalii is an international remittance platform for migrants to send money to their family in Latin America via SMS. It has already formed partnerships with 7,200 retail locations in 8 countries, where Regalli’s credits can be used for grocery and utilities. In the near future, Regalii will leverage on Fenox’s access to emerging markets as it expands its remittance network.
Meta combines the virtual world with the real world through a pair of augmented reality glasses that rivals the Google Glass. Users can create virtual objects and 3D printed prototypes with hand gestures, through its optical display, imaging and miniature computer technology. A notable team member is Steve Feiner, a well-published Computer Science professor at Columbia University who is recognized to be an industry expert in augmented reality. Meta is an excellent addition to Fenox’s portfolio of electronics technology companies such as Lark and gTar.
Butter Systems is a tablet-based menu system that would replace a restaurant paper menu, allowing customers to order food and drinks, or request their check without having to wait for their servers. The tablets present opportunity to upsell drinks and dessert, thus significantly increasing the check sizes of each table. Through this technology, restaurants can improve customer satisfaction and drive sales at the same time.
The last one is a music technology startup, whose name remains undisclosed at this point as the company is still in stealth mode. The results from their partnership with another YC music-focused startup, which is also one of Fenox’s portfolio companies, has been yielding tremendous results for both companies.
We are glad that these startups are now part of the Fenox portfolio. Our team will be working closely with them to provide strategic and operational support.