Feeds

Sydney NFC newbie gets tapped by investors

Tapit gets VC interest in record time

  • alert
  • submit to reddit

Build a business case: developing custom apps

Sydney based NFC start-up Tapit Media has secured its first round of seed funding from VC group Sydney Angels.

While the terms of Tapit’s seed investment were not disclosed, the Sydney Angels Sidecar Fund generally invests between $AU100,000 – $AU500,000 in its portfolio companies.

The mobile start-up was founded in March and enables content sharing by tapping an NFC-enabled phone anywhere the Tapit logo can be found. The company raised the seed funding round in record time, just 22 days from the pitch until the round was subscribed for.

The Tapit premise aims to leverage NFC for use in marketing campaigns by working with agencies, brands, handset manufacturers and carriers. Its applications include mobile commerce, coupon distribution, ticketing, surveys and reviews, content delivery, competitions and social community building.

Tapit CEO Jamie Conyngham, said “the speed in which this round was closed is an endorsement of the Tapit team and the business models we have created around our unique NFC enabled technology. Everyone we meet loves the idea of Tapit, it’s addictive.”

Frost & Sullivan forecasts that there will be around 868 million NFC enabled devices by 2015. ®

Build a business case: developing custom apps

More from The Register

next story
iPad? More like iFAD: We reveal why Apple fell into IBM's arms
But never fear fanbois, you're still lapping up iPhones, Macs
Amazon says Hachette should lower ebook prices, pay authors more
Oh yeah ... and a 30% cut for Amazon to seal the deal
Philip K Dick 'Nazi alternate reality' story to be made into TV series
Amazon Studios, Ridley Scott firm to produce The Man in the High Castle
Nintend-OH NO! Sorry, Mario – your profits are in another castle
Red-hatted mascot, red-colored logo, red-stained finance books
Sonos AXES support for Apple's iOS4 and 5
Want to use your iThing? You can't - it's too old
Joe Average isn't worth $10 a year to Mark Zuckerberg
The Social Network deflates the PC resurgence with mobile-only usage prediction
Chips are down at Broadcom: Thousands of workers laid off
Cellphone baseband device biz shuttered
Feel free to BONK on the TUBE, says Transport for London
Plus: Almost NOBODY uses pay-by-bonk on buses - Visa
Twitch rich as Google flicks $1bn hitch switch, claims snitch
Gameplay streaming biz and search king refuse to deny fresh gobble rumors
Stick a 4K in them: Super high-res TVs are DONE
4,000 pixels is niche now... Don't say we didn't warn you
prev story

Whitepapers

Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Boost IT visibility and business value
How building a great service catalog relieves pressure points and demonstrates the value of IT service management.
Why and how to choose the right cloud vendor
The benefits of cloud-based storage in your processes. Eliminate onsite, disk-based backup and archiving in favor of cloud-based data protection.
The Essential Guide to IT Transformation
ServiceNow discusses three IT transformations that can help CIO's automate IT services to transform IT and the enterprise.
Maximize storage efficiency across the enterprise
The HP StoreOnce backup solution offers highly flexible, centrally managed, and highly efficient data protection for any enterprise.