Online health advice start-up nudjed raises £125,000 investment
Finance Wales backs ‘Siri of health advice’ with backing set to grow team
A start-up which offers personalised online health and wellbeing advice today announced the completion of a £125,000 round of funding from Finance Wales.
Founded in summer 2014 by Warren Fauvel and Neil Atherton, Caerphilly-based nudjed offers a web and mobile app which claims to help users achieve their health goals by offering personalised health and nutrition advice and challenges.
Dubbing itself the “Siri of health advice”, the app is aimed at busy professionals looking to improve their lifestyle, as well as companies and HR departments looking to reduce sick days and obesity amongst their employees.
The £125,000 funding is the first from the Welsh government’s Wales Technology Seed Fund, and was provided by venture capital company Finance Wales.
It will be used to fund six new hires across nudjed’s engineering and delivery teams.
The start-up previously raised £50,000 in equity funding alongside several government-funded grants, and has also launched a pitch on equity crowdfunding platform Seedrs, looking to secure a further £100,000.
Welsh economy minister Edwina Hart commented on the investment: “The Wales Technology Seed Fund provides exciting technology start-ups like nudjed with the backing to become leading Welsh technology businesses of the future, boosting the Welsh economy and supporting business growth.
“nudjed will also be able to benefit from Finance Wales’ links with other early stage investors.”
Warren Fauvel, co-founder and CEO of Nudjed, added: “This new influx of capital will enable us to scale and to continue our rapid development into the burgeoning health and fitness technology market, including the urgent demand for B2B solutions to meet the country’s 21st-century healthcare needs.”