A young technology company headquartered in Caerphilly is the first to benefit from the Welsh Government’s Wales Technology Seed Fund, securing £125,000 from Finance Wales.

Launched in the summer, nudjed is a personalised online health and wellbeing platform aimed at busy professionals. It combines bespoke motivational training with a digital health advice service.

The firm will use Finance Wales’ investment to boost its engineering and delivery teams, creating six jobs.

Nudjed has previously raised £50,000 in equity funding, as well as securing several government funded grants.

It has also launched a crowd-funding campaign on Seedrs to sell an additional £100,000 worth of equity. It became Seedrs’ ’Top Mover’ by securing more than 55 per cent of its target in a week.

Economy Minister Edwina Hart said: “The Wales Technology Seed Fund provides exciting technology start-ups like nudjed with the backing to become leading Welsh technology businesses of the future, boosting the Welsh economy and supporting business growth. nudjed will also be able to benefit from Finance Wales’ links with other early stage investors.”

Warren Fauvel, co-founder and CEO of nudjed, said: “This new influx of capital will enable us to scale and to continue our rapid development into the burgeoning health and fitness technology market, including the urgent demand for B2B solutions to meet the country’s 21st-century healthcare needs.”

James Henderson, of Finance Wales, said: “nudjed’s founders, Warren and Neil Atherton, are a strong team with a clear vision for their business, which targets a growing and potentially lucrative niche market. They’ve developed and launched an exciting online service, which is attracting a growing customer base.

“Nudjed will use Finance Wales’ investment to continue developing its online service to ensure it builds market share and stays ahead of the competition. Our investment will also help with nudjed’s commercialisation costs.”

The Wales Technology Fund aims to provide technology start-ups with the financial backing they need to commercialise innovative new products, services and technologies.