Tech Startup Building “The Next GPS” Completes First Round of Funding
BRIGHTON, UK, March 4, 2021—Naurt, the pioneering creator of “the next GPS,” is excited to announce that it has completed its first round of investment funding, paving the way for the company to expand its operations. Investors have shown considerable interest in Naurt, with the company oversubscribed by 145%.
Naurt created a plug-and-play toolkit for high-precision, beacon-free tracking. With 150 times greater accuracy than GPS, Naurt’s technology has numerous applications across a wide variety of industries. Tracking with Naurt is accurate enough to distinguish in which pocket a phone is, and the hardware-agnostic API can simplify creating augmented-reality 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.”
Jack Maddalena, CEO of Naurt, is looking forward to putting this new capital to work expanding the company’s customer base.
“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.”
The company’s upcoming docuseries, “Growing Naurt,” will offer a behind-the-scenes glimpse of Naurt’s growth and development. Naurt started as a collaboration between CEO Jack Maddalena and CTO Nicolas Slack, but today, the company has grown to employ a staff of seven and already has a number of enterprise clients spanning industries from tourism to retail to telecommunications, including Tui, Sofology, RTA, and Etisalat.
Naurt is an innovation-led and rapidly growing UK-based plug-and-play tracking software solution for enterprises. Because GPS and GNSS technologies have too many limitations, Naurt’s world-class team is tackling the core issue by solving problems once thought impossible. The team aspires to make the new standard tool for tracking for everyone.
Naurt was founded in April 2020 in Brighton, England, by Jack Maddalena and Nicolas Slack. Jack is an entrepreneur and commercial specialist as well as the former sales director and cofounder of VRCraftworks, a company known for making one of the “10 top VR apps to download” according to The Guardian and many others publications. Nicolas Slack is a career CTO and researcher and ex-CTO of VRCraftworks. The cofounders have six years of experience building and selling to blue-chip global companies.