Neur0s separates from Cedrus Ventures
Software to launch new application for filtering information on social networks
The Lebanese software startup ‘Neur0s’ announced that it has separated from the venture capital and private equity firm, Cedrus Ventures. Cedrus last year promised to inject $500,000 of its capital into the newly established company.
The founder of Cedrus Ventures, Michel Nehme, said that the separation was due to different points of view regarding the strategies of both companies.
The founder of Neur0s, Charbel Keyrouz said that the agreement with Cedrus was ended this summer. He said that Cedrus wanted to apply the new application on a small product and start generating revenue as soon as possible. “I feared this would take focus off the main product and that somebody will beat us to it,” said Keyrouz.
Neur0s is currently under agreement with Sharbel Dabaghy, owner of a trading company called BETS (Beirut Eco Traders sarl).
Neur0s will launch a web application in October. The application is intended to filter and prioritize information and messages, mainly on social networks, according to personal needs. It will first be applied on Twitter.
Date Posted: Oct 13, 2011