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article imageCroatian start-up Zzzzapp! wins Venture Fund investment

By Paul Bradbury     Mar 21, 2013 in Technology
Split - An innovative use of WiFi technology from Split in Croatia is attracting international attention and the promise of venture capital funding.
Less than a year from launching its content creation and delivery platform for Wi-Fi, the Split-based start-up Zzzzapp! has received its first investment from the Eleven Accelerator Venture Fund, a 12 million Euro venture capital fund based in Sofia, Bulgaria, according to a report in Metro Portal on March 20, 2013.
Zzzzapp!, founded by Tino Tokic, Andrey Shtylenko and Robert Aronson, was one of 300 who entered Eleven's third round of funding competition. 25 firms from southeastern Europe were invited to make presentations in Sofia two weeks ago and 11 of them received investment, workspace and mentoring in Eleven's Sofia accelerator for three months.
Eleven s open plan workspace is in the city s main communications building
Eleven's open plan workspace is in the city's main communications building
“Getting funded by one of the most important and respected venture funds in Europe is real affirmation for what we have been creating,” Tokic said, “and the investment allows us to prove our concept at the international level and gain access to some of the best mentors in the world. Eleven has a great reputation and is already partnering with major players like Springboard and Google.”
Zzzzapp! currently has more than 40 clients using its system in Split, Dubrovnik and on the island of Hvar and expects to generate more than 1 million landing page views in Croatia alone this year. As previously reported by Digital Journal, Zzzzapp! was the winner of last year's Start Up Live.
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