St Helens-based logistics tech company to double workforce with £50k funding

North West logistics tech firm DriverNet has secured £50k in Northern Powerhouse Investment Fund (NPIF) cash.

The five-figure loan will enable the St Helens-based business to create four jobs and purchase new laptops and software for its team.

The £50k boost, awarded by Liverpool funding provider MSIF through the NPIF – BFS & MSIF Microfinance Fund, will support DriverNet alongside a £68k grant from Innovate UK.

The DriverNet mobile application works to bridge the gap in connections and information between drivers, driver management and customers.

The business behind the software was incorporated in 2016 by founder Ant Chisnall, having remained in the research and development stage for some time while its core application was developed.

With over 15 years’ experience in logistics, Ant launched DriverNet after becoming interested in increasing delivery efficiency, slashing driver journey times and keeping clients updated on the progress of their order.

Ant Chisnall said: “We saw a gap in the quality and services provided to drivers by telematics systems, and also became aware that the majority of fleet operators can’t afford the systems. DriverNet is a low cost network that solves both of these problems.

“We are now about to embark on launching customer trials in the New Year and generate our first revenues shortly afterwards.”

He added: “Our aim to create a new online national network to connect any driver to a site in swift, safe and sustainable ways.”

MSIF investment manager Sue Chambers commented: “It has been really interesting to work with Ant through the investment process. He has so much knowledge surrounding his product and the logistics sector as a whole. His commitment and passion to DriverNet was evident from our first meeting.

“The DriverNet product is really impressive and has clear evidence to show it would be a large cost saving tool for countless companies in the UK and worldwide.”

Sue Barnard, senior manager at British Business Bank, which operates the NPIF, said of the deal: “We are committed to supporting companies across the North of England and it is great to see our fund managers backing businesses like DriverNet that will drive the future of Merseyside’s local economy.”