Over £5 million in funding has been secured by University of Oxford spin-out Navenio, with the funding aiming to support the organisation’s expansion into the US along with the development of their new innovations.
Navenio’s tech – an indoor location and artificial intelligence tasking engine that uses smartphone sensors to provide actionable insights – is designed to streamline patient care logistics and optimise workflow efficiency. At University Hospitals of Leicester NHS Trust, Navenio has “enabled a 66 percent increase in efficiency and effectiveness in our portering workforce across the three Leicester hospitals”, says chief information officer Andy Carruthers.
Andy adds: “Patient flow and experience has improved by getting the right person to the right place at the right time, and the platform has been enthusiastically adopted by our teams. I look forward to expanding our use of Navenio to support additional workgroups and integrate into our other core technologies.”
Alongside the company’s existing customer base in the UK – including NHS organisations, private hospital groups and facilities management businesses – Navenio hopes that the new investment will “fuel further expansion and growth in the United States healthcare market, as well as other geographies”.
Connie Moster, Navenio’s CEO, states that Navenio is “on a strong growth trajectory, and accelerating our deployment for real world impact across healthcare and beyond is our top priority”.
The funding round was led by Oxford Science Enterprises, an independent company aiming to “find, fund and build transformational businesses” via its partnership with the University of Oxford. The round included Navenio’s existing investors such as G.K. Goh Ventures, Big Pi Ventures, George Robinson and the University of Oxford.
We previously covered how Navenio was one of 23 health tech start-ups to join Amazon Web Services’ accelerator programme focusing on workforce solutions.
Earlier this month, we also highlighted the news that OX.DH, another health tech start-up linked to the University of Oxford, has partnered with The Male Fertility Clinic to help streamline the clinic’s appointment booking and test result processes.