Startup First Table has raised $3.5 million through its capital raise, which includes "significant investment" from wholesale investor Invest South and Mainland Angel Investors.
Founded by Mat Weir in 2014, First Table started its first capital raise through Snowball Effect in March and received a term sheet from Invest South the following month.
Invest South executive officer Prue Halstead said investing in a Queenstown-based hospitality technology business with global aspirations aligned "perfectly" with its mission to invest in companies that could have an impact on the entire region’s economic prosperity.
"We conducted extensive due diligence, recognising the community funds involved, and are confident that this strategic investment will have a positive impact on the region and the hospitality industry as a whole," she said.
Mainland Angel Investors network manager Peter Ramsay said it was also excited to be involved.
"[First Table] have demonstrated incredible growth potential and the ability to attract key talent to support the founding team on their mission to scale offshore.
"Our investment ... proudly demonstrates the growing hunger in the lower South Island to support high-growth investment opportunities."
Mr Weir was thrilled to welcome the two parties, as well as the 325 individual Snowball Effect investors.
The partnerships affirmed the "strength of opportunity and confidence" in the team, Mr Weir said.
