North East app firm Nutshell Software raises £1.2 million

Newcastle mobile app developer Nutseell Software has raised £1.2m to develop its products.

Nutshell Software has received the cash from 2 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.

“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,” said Aaron Lawson-Clark from Mercia, who led the deal with Jan Oosthuizen.

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.

Nutshell claims that its software enables businesses to build a mobile app in minutes, with no coding. Its clients include Network Rail, Siemens, Northumbria Police and the NHS.

“With 3.5 billion smartphones worldwide, mobile apps are an effective way for public and private sector businesses to roll out their services to a wide audience. Nutshell makes mobile app development easy and will help businesses large and small to drive innovation and growth,” explained founder, Martyn Cuthbert.

The company, which currently employs 12 staff, expects to create around 40 new jobs in the next three years.

The Northern VCTs, which provide series A venture investment of up to £5million for high growth SMEs, are amongst the longest-established funds of their type in the UK.