Oxford-based, AI-powered location platform Navenio has secured $6.3 million in Series A extension funding round. The fresh funding with fuel further expansion and growth in the United States healthcare market, as well as other geographies.
The round was led by Oxford Science Enterprises and includes participation from existing investors G.K. Goh, Ventures, Big Pi Ventures, George Robinson, and the University of Oxford. Navenio was spun out of the University of Oxford in 2015.
The location platform is used to locate people in hospitals or other large buildings where the use of GPS is not ideal. Its intelligent location and workforce solution, thought to be an efficiency tool for hospitals, locates patients, staff and medical equipment in real-time so it can allocate tasks using the current path of motion, and optimal route determination to administer the smart, automated orchestration of patient care.
“We invest in companies with the potential to become leaders in their field, and that is why we’re proud to back the incredible team at Navenio on their latest fundraise. Navenio is revolutionising the way we create more efficient healthcare workplaces, through its proven technology-powered platform for indoor mapping, and we are excited to continue supporting the team on the next stage of the company’s journey as they look to deliver its offering to a wider range of use cases and across new geographies,” says Heather Roxborough, Head of HealthTech at Oxford Science Enterprises.
Navenio is already active in the UK and is being used by the UK's national healthcare system, the NHS. Navenio claims it can increase location response times by 40 percent and task completion by 94 percent.
"This investment will go a long way in helping Navenio to ramp up its offering in the US as well as in new geographies. We’re on a strong growth trajectory, and accelerating our deployment for real-world impact across healthcare and beyond is our top priority," says Connie Moser, CEO of Navenio.
Lead image: Hush Naidoo Jade Photography.