Finance Yorkshire provides flexible investment packages including loans and equity to small and medium enterprises across the Yorkshire and Humber region.
The laboratory simulator firm raised the funds from new investor Foresight Group alongside Mercia and Finance Yorkshire.
"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."
The funding round was jointly backed by NPIF and Finance Yorkshire with £500k each.
"Healthcare services worldwide rely on rapid and accurate laboratory testing. However, training staff is costly, and machine downtime is commonplace, often due to operator error or simple faults that could easily be fixed with the right support. We believe our platform will dramatically improve productivity by enhancing staff skills and keeping equipment up and running, while also reducing warranty costs for manufacturers."
Finance Yorkshire backed the Product Lifecycle Management software provider with growth fund capital.
"Our solution takes brands and SMEs from concept and product development through to production and beyond. It groups everything in one place and creates a single source of truth for the users’ product workflows and data, demonstrating transparency and sustainability. We’ve added to our team in Yorkshire – we like to hire from within the region where there is so much talent. We were ready to grow when we approached Finance Yorkshire – the investment will help us capture more customers and strengthen our marketing campaign."
Northern Gritstone led the seed round with backing from Finance Yorkshire and NPIF II, Praetura Equity Finance to fund team expansion and product development.
"The robotics market is growing fast, but that growth would be exponentially higher if the tremendous cost and complexity of programming robots were reduced. Robotics has an almost unlimited potential to help humanity solve global challenges, but the world simply can’t afford to wait for robotics to standardise around a single operating system and coding language. BOW’s universal software platform and SDK elegantly solve this intractable problem by enabling any software developer to program various types of robots using the coding language of their choice, make portable applications and enable easy interoperability between any make and model of robot. This £4 million seed investment, led by Northern Gritstone, will be used to build on our strong commercial traction to date, expand our brilliant team and accelerate our product development so we can unleash the full potential of robotics for the betterment of our world."
The investment package includes £200k from Finance Yorkshire alongside contributions from the University of Hull and private investors.
"This investment will take MediMusic to the next level. We passionately believe this will be a real game-changer in how we treat dementia patients and people suffering from pain, anxiety and stress."
