Funding boost for My Smart City sees new services
Acumen Software, the asset and resource management solution provider that created the My Smart City platform, says it has utilised the Series B funding it secured from venture capital firm Imvelo Ventures to introduce additional functionality on the platform.
My Smart City is a citizen mobile and web-based app that allows residents to engage key stakeholders and service providers within their community in a dialogue, sharing of ideas and concerns to improve the services from the city.
The new services available via the app include the “In the City” module released last week and a job creation portal. The new functionality provides users with more information, including insights into municipal service performance, places of interest to boost local tourism and access to social, sporting and other events.
The platform provides the ability to purchase value-added services, such as airtime, data and lotto tickets, with more to come.
The new portal connects private sector firms to available skills and talent, in a move to boost job creation across the country. It also connects tradesmen to potential clients.
"The platform has the potential to create up to 50 000 jobs within five years. Nations can use Smart City technology to formalise informal work sectors and support SMMEs. The platform will also provide exposure for small businesses, previously unknown – a catalyst for economic growth,” saysJoao Zoio, CEO of Acumen Software.
Acumen Software is a software development and business consulting company established in April 2006.
The portal will unlock the disruptive private services module, providing citizens with access to services from trusted sources, Zoio adds.
My Smart City is currently available in Johannesburg, Cape Town, Ekurhuleni, Tshwane and eThekwini.
Imvelo Ventures, founded by Capitec Bank and investment firm Empowerment Capital Investment Partners, identifies and funds promising South African small and medium enterprises.
"We believe that venture capital has a significant role in South Africa because it is a proven method of introducing capital to higher risk ventures that support exponential outcomes,” saysMark Fitzjohn, director at Imvelo Ventures.
“There is a wealth of potential in South Africa, and venture capital investing is a process of sifting to uncover the current golden opportunities. We're all trying to solve problems. The My Smart City platform is a great example of problem-solving, through world-leading tech, being built and rolled out on our doorstep."