Navenio secures £5m from Oxford Science Enterprises to fund US expansion and product development.
The funding round was led by Oxford Science Enterprises to support growth in the US and UK markets.
Navenio provides indoor location technology and task allocation software that streamlines patient care logistics and workforce efficiency in healthcare environments. The Oxford University spinout develops solutions using smartphone sensors to deliver real-time operational insights.
Oxford University spinout Navenio has raised £5m in a funding round led by Oxford Science Enterprises. The capital will support the location technology scaleup as it expands into the United States market, drives continued growth in the UK, and develops additional efficiency innovations.
Participation in the round also came from existing backers including G.K. Goh Ventures, Big Pi Ventures, George Robinson, and the University of Oxford. The latest injection builds upon a previous £9m Series A round, bringing additional momentum to the company as it scales its intelligent workforce solutions for healthcare environments worldwide.
From the founder
"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."
Connie Moser
CEO at Navenio
Investor perspective
"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."
Heather Roxborough
senior partner of Health Tech, Oxford Science Enterprises
Use of funds
- 01Expand into international markets
- 02Continue product development
Investors
Heather Roxborough
Oxford Science Enterprises
G.K. Goh Ventures
Big Pi Ventures
George Robinson
University of Oxford
