Marine technology company savvy navvy has surpassed its funding round, so far raising £750,000 from around 150 investors.
The navigation app, often referred to as ‘Google maps for boats’, had an initial £500,000 target.
“I’m blown away by the continued support and pleased to have over 150 new investors on board in this round already,” said Jelte Liebrand, CEO and founder of savvy navvy.
“Many are loyal savvy navvy users – boaters, who share our vision and want to have some input into the direction of navigation for small leisure crafts and share the journey with us.
With an enhanced app, growing brand awareness and users globally savvy navvy is now poised to scale up dramatically, and with this funding round we look to strengthen our marketing strategy further to get even more people safely out on the water.”
The company had a pre-money valuation of £14m.
Last year savvy navvy won the British Marine Business of the Year award, grew its partnerships around the world and launched an instructor programme.
The app has surpassed 1.6 million downloads and users have plotted more than 250,000,000 miles around the world.
“Now in our seventh year here at savvy navvy, we are actively shaping the marine industry for the better and working alongside my 15-strong team we are challenging the bigger navigation apps in the market,” added Jelte.
The savvy navvy app allows users to plot the best route based on the departure time, chart, weather, tide, boat data and local regulations.
Points of interest, including marina information, marine services and local businesses are also shown.
