Naurt, a Brighton-based startup that develops a plug-and-play tracking software solution for enterprises, has completed its first round of investment funding, securing £500K.
According to the press release, the company is oversubscribed by 145%. The funding will be used to expand the company’s customer base.
150 times accurate than GPS
Founded in April 2020 by Jack Maddalena and Nicolas Slack, Naurt created a plug-and-play toolkit for high-precision, beacon-free tracking, that is 150 times more accurate than GPS.
The company claims, it is accurate enough to distinguish in which pocket a phone is. Also, the hardware-agnostic API can create AR markers for turn-by-turn directions on mobile devices, such as for tracking a pipeline or underground cable to perform maintenance.
“I’m really excited about the project and what the team is building,” says Gustave Voutem, the former managing director of Morgan Stanley. “I’m exceedingly keen to see the project and team grow.”
“As this is our first investment journey, it’s been a steep learning curve. This has been a great exercise in retrospection, holding a mirror up to our company. We’ve met plenty of great people and explored more interesting concepts and ideas than we can count. It’s been a fantastic way for us to refine our strategy with regards to the market. We’re glad to have such impactful investors on board our team to help us get to the next level and make Naurt the next GPS.”
Right now, the company employs seven staff and has a number of enterprise clients spanning industries from tourism to retail to telecommunications, including Tui, Sofology, RTA, and Etisalat.
The company is also starting a docuseries, “Growing Naurt,” which will offer a behind-the-scenes glimpse of Naurt’s growth and development.