Envoke secures £1.6m from Foresight Group and existing backers to target Asia-Pacific expansion
The laboratory simulator firm raised the funds from new investor Foresight Group alongside Mercia and Finance Yorkshire.
Envoke provides software for remote training and support, creating virtual replicas of complex laboratory equipment for medics and technicians.
Leeds-based Envoke has raised £1.6m in a fresh funding round to support its expansion into the Asia-Pacific market and grow its team. The investment was backed by new participant Foresight Group alongside returning backers NPIF - Mercia Equity Finance and Finance Yorkshire's Seedcorn Fund.
The company has developed a platform that simulates complex lab machinery to facilitate remote training, troubleshooting, and maintenance for healthcare providers and major equipment manufacturers. Envoke plans to build on its existing international client base as it targets further global growth over the coming year.
From the founder
"Laboratory equipment is challenging to operate and technical problems are commonplace. Each service call-out typically costs manufacturers $2,500 and a breakdown can seriously disrupt health services by delaying critical test results. Envoke is tackling these problems. Customer feedback shows our system helps laboratories to reduce downtime and provide more consistent operator training, while enabling manufacturers to cut service costs and boost revenue."
Stuart Warrington
CEO at Envoke
Investor perspective
"Envoke has come a long way since our original investment three years ago. The company has built an impressive client base among US multinationals, achieved very positive customer feedback and launched a new platform that is the most powerful to date. With growing global demand for virtual training and maintenance systems, it is now well positioned to reach out to an even wider international audience."
Dawn Tyler
Mercia Ventures
Use of funds
- 01Expand into international markets
- 02Grow the team
