Navenio, an Oxford-based software company that provides indoor location services for workforce efficiency, announced today that it has secured a $12.6 million investment.
The round was led by Oxford Science Enterprises, a university-backed investment firm that focuses on early-stage companies in the life sciences and deep tech sectors. The round also saw the participation of most of Navenio’s existing investors, including QBN Capital, Big Pi Ventures, Future Planet Capital, G.K Goh, Hostplus, Oxford Investment Consultants, IP Group, and the University of Oxford.
Navenio’s technology is based on its mobile app that uses sensors to locate people inside buildings without the need for any new hardware such as beacons or Wi-Fi. The app helps improve workforce efficiency in hospitals by providing real-time guidance and task allocation based on the location and availability of staff. Navenio claims that its solution can reduce costs, increase productivity, and enhance patient outcomes.
The company plans to use the new funds to accelerate its growth in the US market, where it has already partnered with several healthcare providers. Navenio also aims to further its long-term vision of bringing indoor location benefits to a broader audience, such as retail, hospitality, and education sectors.
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