After two years of beta testing, Naurt goes public with fresh funding to help delivery drivers find optimal parking spots and accurate building entrances location data, ensuring timely and efficient deliveries.
The global “last mile” food and package delivery industry is worth almost $990b and is facing immense pressures to manage costs and cope with demand. Helping them deliver on their promise and create operational efficiencies, geo-location start-up Naurt today announcing the public launch of their software which is set to redefine the delivery ecosystem. Having successfully completed over 80 pilots with a range of organisations, Naurt is launching with a £300,000 funding from venture builder Founder + Lighting to propel its ambitious scale-up plans.
The Naurt platform is laser focussed on fixing the biggest issue facing delivery drivers: the arduous task of finding the best parking spot and the correct building entrance. By showcasing the optimal locations, Naurt guarantees quicker deliveries, ensuring parcels never get lost or delayed. This innovation not only enhances delivery capacity by 5% to 15%, but it also significantly impacts delivery companies’ gross profit margins by minimising the key industry “stop cost” metric. This measures the number of deliveries made per shift divided by the length of time it’s taken the driver to complete.
During its beta testing (last 18 months), Naurt has collaborated with 83 organisations, who have reported a 6.67% increase in daily deliveries. This boost, equating to an additional delivery per day for drivers, translates into substantial financial savings for companies, especially when labour costs account for a substantial 40% of delivery service expenses.
Founded in 2020, Naurt has been on a mission to refine GPS tracking accuracy. The company’s unique software-first approach has enabled them to deliver significant business impact and has been recognised by winning Tech Nation’s Rising Stars start-up competition, outperforming 627 others. With a rapidly expanding team, which includes industry stalwarts Lucy Woolfenden, former CMO at Yolt, and Cien Solon, ex-Zilch, Naurt is poised to scale the business.
Jack Maddalena, CEO of Naurt, said, “We see many businesses miss out due to poor levels of location data quality. Now that we have proven our quality of location tracking and data, this will lift the constraints and open possibilities for teams. Naurt has unlocked this opportunity for businesses, with the delivery sector being our initial focus. It’s become clear that accurate location tracking alone is not sufficient in this fast paced industry, there’s a desperate need for location intelligence in each and every delivery. A lack of which is costing businesses and people time, money and safety. We have created a solution that is able to improve on this without the need for extra hardware. The work we are doing will be transformational for people and businesses around the world”.
The current economic environment has witnessed a shift from growth to profitability. Final mile companies are striving to streamline operations, making Naurt’s solution increasingly pertinent. Their patent-pending software not only ensures efficient deliveries by determining optimal parking spots and building entrances, but it also amasses invaluable data, with over 500 million location points collected in collaboration with global delivery giants.
Recent studies, like the research paper from Washington University, have underscored the need for intelligent parking solutions, highlighting potential savings of up to 27.9% in parking search time. This further emphasises the value Naurt brings to the industry.
“We are confident that Naurt has a globally unrivalled location-tracking solution. Last-mile delivery problems are costing businesses millions each year and Naurt will help slash these inefficiencies.” added Conor Moylan, Chief Investment Officer at Founder + Lightning
Looking ahead, Naurt is eager to integrate with numerous delivery companies, aspiring to become an industry-standard software solution. Their vision extends beyond deliveries; they foresee their technology aiding utility companies in asset tracking, potentially revolutionising maintenance protocols.
