Oxford University spin-out’s indoor location-based platform adds to last year’s $11M Series A investment to improve workforce efficiency in healthcare and other verticals
The Oxford Science Enterprises-led round will support expansion in the US as well as continued domestic growth as the pandemic continues to impact healthcare
Oxford, UK, December 17th, 2021 - Today we’re proud to announce that Navenio has secured a $12.6 million investment to help revolutionise workforce efficiency and rapidly 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 its long term vision to bring the benefits of indoor location to everyone, everywhere.
Navenio is currently tackling the rising cost of healthcare with tools that can increase workplace productivity by up to 100%, 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 healthcare sector, and this investment enables the company to rapidly spearhead international digital transformation.”
Matt Arnold, Principal at Oxford Science Enterprises commented: “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.”
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 healthcare economy. Going beyond healthcare, relationships such as that with HERE Technologies, will also see the ground-breaking indoor location tech deployed in many more verticals.
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.
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. 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.