A Newcastle tech company whose software allows businesses to create their own mobile apps has raised £1.2m to further develop its product and expand its team.
Nutshell Software has secured investment from two funds managed by Mercia – the Northern Venture Capital Trust (VCT) Funds and the North East Venture Fund (NEVF), which is supported by the European Regional Development Fund.
The firm’s software offers businesses a way to create their own fully functional mobile apps without code.
Launched in 2017, the platform is now used by public and private sector organisations including Network Rail, Siemens, Northumbria Police and the NHS.
The company, which currently employs 12 staff, expects to create around 40 new jobs in the next three years.
Nutshell was launched by serial entrepreneur Martyn Cuthbert, a former civil engineer who recognised the potential of new technology while working in the rail sector. His launched his first IT business OnTrac in 2007 and sold it to Tracsis plc in 2016.
Aaron Lawson-Clark and Jan Oosthuizen from the Mercia team led the deal. Lawson-Clark said: “Nutshell stood out with both a market-leading product and a management team with experience in building a successful software company. Mercia is pleased to be backing another fantastic business in the North East of England.”