Caerphilly learning tool secures £105K in government funding
Learning tool Noddlepod has secured £105,000 in investment from Finance Wales’s Technology Seed Fund.
The start-up, based in Caerphilly, had just closed a funding round totalling £155,000.
It’ll use the funding to develop and commercialise its collaborative learning tool, as well as hiring a number of new developers and sales staff to contribute to further growth.
Following the investment, Noddlepod will be joined by 3 successful business executives in the field of learning technology – who will serve as advisors.
These are Charles Jennings, a learning and performance expert, Mary Mckenna, who co-founded online learning company Learning Pool and Nigel Paine, a learning consultant.
Ollie said: “With financial backing and three of the most influential thought-leaders in the world of learning and technology, Noddlepod is raring to go.”
The Wales Technology Seed Fund, founded in 2014 by the Welsh Government, aims to invest £7.5 million in over fifty new, fast-growth, early-stage technology businesses.
On a commercial basis, it is managed by Finance Wales and provides equity investments of between £50,000 and £150,000.
NoddlePod’s investment comes near the top of this scale.
Economy Minister Edwina Hart said: “The Wales Technology Fund was set up to provide technology start-ups with the financial backing they need to commercialise innovative new products, services and technologies.
“This is Finance Wales’ fourth investment from this fund and I am pleased to see how it is supporting and helping technology companies like Noddlepod take their innovative products to market.”