Oxford University spin-out, tech company Navenio has raised £9 million in series A funding to develop its “Uber for Hospitals” technology which uses smartphones, with no need for investment in new infrastructure from hospital management.
Hospitals can use Navenio’s AI-led ‘Intelligent Workforce Solution’ to assign tasks to healthcare teams based on their location. This helps prioritise workload in real-time on the basis of ‘right person, right time, right place’, helping hospitals to increase their efficiency and provide vital equipment to staff more quickly.
The company is now making its technology available to hospitals to help tackle increased pressure on healthcare systems worsened by variable staffing levels caused by Covid-19. This helps to ensure faster cleaning of infectious areas in hospitals, give full visibility of vulnerable patient movement between departments, and connects porters directly with staff to ensure that vital equipment is transported to where it’s needed as soon as possible.
The series A funding round was led by QBN Capital in Hong Kong and also included G.K. Goh from Singapore, Hostplus from Australia, Big Pi Ventures from Greece, as well as existing backers such as Oxford Investment Consultants. Oxford Sciences Innovation, IP Group plc and the University of Oxford.
Philea Chim, Senior Vice President at QBN Capital, said: “We’re delighted to lead this funding and be closely involved with Navenio’s mission to help frontline teams. Navenio’s technology has the potential to transform the way that organisations deal with tasks across the board for the better, which is especially important during the long-lasting disruption caused by Covid-19.”
Dr Harpreet Sood, former Associate Chief Clinical Information Officer at NHS England, said: “Navenio’s technology is unlocking significant improvements in the efficiency and workflow of healthcare teams, and has been shown to result in both better patient outcomes and staff experience. It’s a bit like an Uber for indoors, given the ability to connect frontline teams with the resources they need as quickly as humanly possible.”
Navenio CEO, Tim Weil, said: “We’re delighted to have closed this recent funding round during such a disruptive period; It will help us increase the scope of our offering here in the UK, as well as US and Asia where we have a number of evolving partnerships, and continue to drive new efficiencies for everyone, everywhere.”