Navenio secures over £5 million funding for US expansion
Discover Navenio’s groundbreaking tech and its journey to transform US healthcare with a £5M funding boost.
Navenio, an innovative spin-off from the University of Oxford, has successfully raised over £5 million in funding, a significant step towards the organisation's expansion into the United States and the creation of unique solutions. This game-changing solution combines indoor location and artificial intelligence and is developed to improve patient care logistics and workflow efficiency while providing actionable information via smartphone sensors.
According to Chief Information Officer Andy Carruthers, the installation of Navenio's technology at the University Hospitals of Leicester NHS Trust resulted in a remarkable 66 per cent boost in efficiency and effectiveness among the portering workforce across three Leicester hospitals. The technology has enhanced patient flow and experience by ensuring the correct person is in the right place at the right time, but it has also been enthusiastically adopted by the teams, boosting the overall patient experience and workflow.
Andy Carruthers anticipates that Navenio's utilisation will be expanded to support other workgroups and integrate with other vital technologies, highlighting the tremendous impact on patient flow and experience. The technology has been enthusiastically adopted by teams, showcasing its potential to improve healthcare logistics and patient care.
Navenio's ambitions go beyond its current customer base in the United Kingdom, which includes NHS companies, commercial hospital groups, and facilities management firms. The significant investment is expected to promote future expansion and growth in the healthcare market in the United States and other countries, paving the way for a global change in healthcare logistics and management.
Navenio's CEO, Connie Moster, articulates the company's excellent development trajectory and highlights that their primary objective is accelerating deployment for real-world impact throughout healthcare and beyond. Navenio's strategic strategy and ambitious expansion ambitions demonstrate the company's dedication to revolutionising healthcare logistics through innovative solutions.
Oxford Science Enterprises, an independent corporation that aims to develop, support, and build transformational firms through its association with the University of Oxford, led the funding round. Navenio's previous investors, including G.K. Goh Ventures, Big Pi Ventures, George Robinson, and the University of Oxford, also participated in the round, showing a shared vision to promote transformative change in healthcare.
Navenio's path has also been highlighted by its selection as one of 23 health tech start-ups in Amazon Web Services' accelerator programme, concentrating on workforce solutions and demonstrating its potential to be a trailblazer in health tech advances—furthermore, OX.DH, a University of Oxford-affiliated health tech start-up, has collaborated with The Male Fertility Clinic to streamline the clinic's appointment booking and test result processes, demonstrating the diverse applications of health tech solutions originating from the University of Oxford.
Navenio's innovative technology and planned expansion into the US market demonstrates the company's dedication to transforming healthcare logistics and patient care. The significant funding and collaboration efforts with recognised institutions point to a bright future for Navenio and its creative solutions in altering healthcare experiences worldwide.