Navenio, the Oxford-based health and location tech scale-up, has announced a $12.6 million investment to 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.
Many people have tried to make the way clinical teams work to be more efficient. But few have focused on optimising the supporting logistics teams which underpin patient flow throughout a hospital, for example porters, cleaners, and Allied Health Professionals.
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.
The company is tackling the rising cost of healthcare with tools that can increase workplace productivity by up to 100 per cent, it claims, 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, added: “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.”
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.
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.