Navenio, which provides indoor location solutions that work on smartphones with no need for investment in new infrastructure, has raised £9m in series A funding, enabling the Oxford University spinout to expand in international markets.
Dubbed ‘The Uber for healthcare teams’, Navenio’s solutions are in use in the UK’s NHS hospitals, where they have been proven to double the throughput of existing hospital teams such as porters and cleaners, by making better use of their time. The technology enables team managers to locate people accurately, helping to ensure the right people are in the right location, and facilitates staff management issues such as rapid response, task scheduling and staff support in busy times. Its Intelligence Workforce Solution enables hospitals to assign tasks to healthcare teams based on their location.
Navenio is making its solutions available to hospitals during the Covid-19 crisis to help tackle increased pressure on healthcare systems worsened by variable staffing levels. This helps to ensure faster cleaning of infectious areas in hospitals, gives 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.
Tim Weil, Navenio CEO, commented: “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 the US and Asia, where we have a number of evolving partnerships, and continue to drive new efficiencies for everyone, everywhere.”
Dr Harpreet Sood, former Associate Chief Clinical Information Officer at NHS England, commented: “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.”