UK Scaleup Navenio Secures $12.6M Investment to Accelerate Global Growth in Healthcare and Beyond
· Oxford University spin-out’s indoor location-based platform adds to last year’s $11M Series A investment to improve workforce efficiency in healthcare and other verticals
· The Oxford Science Enterprises-led round will support expansion in the US as well as continued domestic growth as the pandemic continues to impact healthcare
Oxford, UK. : Navenio, the health and location tech scaleup, has announced a $12.6 million investment to help revolutionise workforce efficiency and rapidly accelerate growth in the US market. The round was led by Oxford Science Enterprises, and saw the majority of Navenio’s existing investors participate, including QBN Capital, Big Pi Ventures, Future Planet Capital, G.K Goh, Hostplus, Oxford Investment Consultants, IP Group, and the University of Oxford.
The funding will help to deliver the company’s long term vision to bring the benefits of indoor location to everyone, everywhere. Navenio’s infrastructure-free indoor location solutions, the equivalent of GPS for use indoors, power a range of apps and platforms in sectors including healthcare.
The company is tackling the rising cost of healthcare with tools that can increase workplace productivity by up to 100%, freeing up clinical resources to focus on patient care. The investment will enable Navenio to get its breakthrough technology into the hands of many more frontline teams, helping them cope with demand by maximising patient flow in key departments such as imaging and logistics, a key issue limiting the ability of hospitals to continue critical operations and procedures as the pandemic continues to impact healthcare.
Niki Trigoni, Founder and CTO of Navenio, said: “I’m delighted our investors have again demonstrated their belief in the vast potential that Navenio can bring by ensuring ‘right person, right place, right time’. Artificial intelligence is one of many technologies making a real-world impact in the health sector, and this investment enables the company to rapidly spearhead international digital transformation.”
Navenio has already forged strong relationships with health systems and facilities management operators in the UK and US. Following recent funding from NHSX, as part of an AI in Health and Care Award, Navenio is also currently developing a proven and nationally scalable evidence base to further support improved patient flow across the health economy. Going beyond healthcare, relationships such as that with HERE Technologies, will see the ground-breaking indoor location tech deployed in many more verticals.
Matt Arnold, Principal at Oxford Science Enterprises commented: “We’ve supported Navenio since day one and couldn’t be happier with the progress they have made despite the pandemic. We are proud of the impact this business has made in healthcare and this investment gives the company the firepower to deliver this promise internationally.”
About Navenio
Navenio was spun out of the Department of Computer Science, University of Oxford in 2015, by Professor Niki Trigoni (Founder and CTO), and has an established team of more than 60 people which continues to grow. Navenio was given a strong commendation in KPMG’s British Tech Pioneers 2020 Programme, has been named as part of the DIT100 and Tech Nation’s Upscale 6.0 this year, as well as winning both commercial and academic awards.
Navenio’s location technology is developed from world-class University of Oxford science. In brief, using only a smartphone’s sensors, the fusion of four unique technologies creates a highly scalable indoor location, providing actionable insight immediately. Privacy and security are inherent within the Navenio technology and the company is Cyber Essentials Plus certified, GDPR, HIPAA and NHS Data Security and Protection Toolkit compliant.
About Oxford Science Enterprises
Oxford Science Enterprises is a Science Business Builder, committed to helping solve the world’s toughest problems for more people, in more places, faster. The company does this by transforming world-leading science into world-changing businesses, partnering the best scientists from the world’s best university with the best business brains. Oxford Science Enterprises grows its companies with care and expertise, investing for real-world impact, not only financial returns, and re-investing proceeds back into the next generation of original research and world-changing businesses.
Since 2015, the company has received an automatic stake in all Oxford University science spinouts – and has taken a leading role in creating and building enterprises that address problems that affect people in life-changing ways: their health, the availability of food, the survival of the planet.
