Telefónica makes first Wayra investment

Telefónica’s venture capital team has made its first investment in a start-up since launching its European talent incubator Wayra back in March 2012.

The recipient of thesix figure sum isTaskhub, an online marketplace for tasks and small jobs. The site allows people to post a task and the price they are willing to pay for it. Taskhub is currently being guided by Wayra in London, where it receives a shared working space and technology, know-how and access to the investor community.

In addition to its investment, Telefónica will also help Taskhub continue its development by providing marketing through O2 channels, including its small business customer base, and using O2 assets such as Priority Moments Local.

The operator said that it will also identify potential synergies with the O2 local government sales team, adding that there is also potential for it to support Taskhub in launching in other markets where Telefónica operates.

“We created Wayra to find and nurture the best technology start ups and this investment is a fantastic example of how we can then take a start up beyond seed stage, leveraging both our venture capital capabilities and opportunities within our operating businesses,” said Martin Harriman, head of Telefónica Digital for the UK and Ireland.