Caerphilly-based tech start-up Noddlepod has secured its first round of funding from Finance Wales and four angel investors.
The company, which is based at the Welsh Innovation Centre for Enterprise, on Caerphilly Business Park, will use the funding, which includes £105,000 from the Wales Technology Seed Fund, to develop and commercialise its collaborative learning tool.
It will also enable the company to recruit a number of developers and sales staff.
Noddlepod’s online platform provides a private environment for groups of people to share their knowledge, support and to learn from each other.
Chief Executive and co-founder Ollie Gardener said: “Noddlepod has a unique approach to organising and filtering information, which reduces information overload and enables peer-to-peer learning. This funding will enable us to reach new customers and build on this competitive advantage.”
Finance Wales Investment Executive, Ann Casey, made the investment in Noddlepod.
She said: “Noddlepod is the result of four years research and development. The software solves a real problem in the marketplace and has the potential to dramatically improve knowledge sharing and group learning. Finance Wales’ investment will enable Noddlepod to bring its software to market, initially targeting Business Schools and leadership development providers.”
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.”
Corporate Solicitor at Greenaway Scott, Laura Herdman, advised Noddlepod on the seed investment round.
Ms Herdman said: “Noddlepod is an innovative, dynamic product which has the potential to transform the way people share information and learn in parallel. I am delighted to have been involved in this deal and look forward to seeing Noddlepod develop to its full potential as a result of this investment.”
Following the investment, Noddlepod’s co-founders Ollie and Stephen Gardener will now be joined in an advisory capacity by three business executives.
Charles Jennings, Mary McKenna and Nigel Paine bring over 100 years of combined experience of designing and implementing learning technologies to Noddlepod’s board of directors.
Mr Jennings is a leading thinker and practitioner in innovative learning and one of the world’s leading experts on building and implementing learning strategies.
Technology entrepreneur and angel investor Mary Mckenna co-founded and built a successful online learning company called Learning Pool on the back of a long public sector career.
Nigel Paine is a change-focused leader with a worldwide reputation and unique grasp of media, learning and development in the public, private and academic sectors. He has extensive experience in leadership and consultancy with public service broadcasters, SMEs, global industry players, government and education institutions.
Welcoming the trio to Noddlepod’s board, Mrs Gardener said: “It’s a great pleasure to welcome such experienced individuals to our board. We truly believe we can revolutionise community learning and cannot think of a team better qualified to help us reach our potential.”