Caerphilly-based technology start-up Nudjed has closed a £100,000 seed round led by Catalyst Growth Partners, with participation from biotech entrepreneur Chris McGuigan and existing investors Finance Wales and Smart Anchor Ventures.
Founded by Warren Fauvel, Nudjed is an automated service that measures the health of an organisation and offers tailored advice to support a healthier and more positive workforce – measuring everything from employee fitness, mood and body shape, to their interests and work life.
The company raised £125,000 with Finance Wales’ seed investment last year – the first from the Wales Technology Seed Fund – which enabled the development of its product and this latest funding round will help accelerate the market development of its app.
Fauvel commented: “We’re delighted to have secured this new funding from a number of prominent investors all of who add huge value to our company. The new funds will enable us to expand our science and product teams, and will help us to consolidate our intellectual property.
“We’ve already hired a new business development manager to convert our growing sales pipeline, a customer delivery manager to build customer success, and a marketing manager that will help build market brand awareness.”
Ashley Cooper, founder and director of Catalyst Growth Partners, commented: “Nudjed has a great founder and team, a really innovative product that the market needs, great growth potential, and is a business where we can add significant value to the strategic direction and growth. We are very excited as to what the future holds for Nudjed, and are delighted to be involved.”