Grist, Nathan back local startup

Vocus Upstart co-founders Anthony Grist and Robert Nathan have participated in a $300,000 capital raising by Perth-based startup GeoMoby.

The two local technology entrepreneurs were among a number of investors who contributed to the raising.

GeoMoby, based in Spacecubed, was founded in 2013 after graduating from the Founder Institute, with a focus on geofencing solutions for applications.

It has developed a commercial pilot in the enterprise solutions space, which was a condition precedent to receiving the funds.

 “Raising capital from Perth can be a tedious exercise and one has to tick several boxes before angel investors and venture capitalists are ready to invest,” GeoMoby chief executive Chris Baudia said.

“It does not only depend on how you sell your vision but also on demonstrating tangible opportunities, a well-defined path to commercialisation and your ability to build a strong team around your project. 

 “All of GeoMoby's investors will bring extended skills in business improvement and capital markets along with a huge network that GeoMoby will be leveraging within the next months and take the startup to the next level.

 “The $300,000 funds raised will not only help the startup in its mission to build and improve its brand awareness but also to develop its strategic business model.

“Specifically, the new funds will be used to complete the next generation of GeoMoby's products and features, to plan and run marketing campaigns, recruit new key staff members and to expand into US markets.”