A UK company whose simulation software enables medical staff to train to use laboratory equipment and troubleshoot problems has raised a further £1m.
Leeds-based Envoke’s platform, which creates a virtual model of each machine, is the only one of its type that can provide e-learning on medical devices.
It also enables manufacturers to offer remote support, reducing the need for site visits, while its AI-powered diagnosis tool allows users to resolve many problems themselves.
The latest funding will allow the business to further enhance the system, boost sales and marketing and roll it out to more customers in the run-up to a Series A investment.
The business, which currently employs 11 staff, plans to create two new jobs in the coming months.
NPIF – Mercia Equity Finance, which is managed by Mercia and is part of the Northern Powerhouse Investment Fund, has invested £500,000 matched by £500,000 from Finance Yorkshire’s Seedcorn Fund.
The company secured £1m from Mercia and NPIF in 2023 to further develop the platform to meet the demand.
Following the launch of the new module late last year, it has won a host of new clients and as a result, has almost doubled its ARR in the past 12 months.
Envoke’s clients include leading device manufacturers such as Bio-Rad, Waters Corporation, PacBio, Grifols and the Terumo Group, and the system is now used in laboratories worldwide including in the NHS and other health services as well as leading universities.
“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,” said Stuart Warrington, CEO of Envoke.
“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.”
Dawn Tyler, portfolio director at Mercia Ventures, added: “Envoke’s pioneering platform could transform training for laboratory staff in the same way the flight simulator did for pilots.
“Our initial investment enabled the team to develop this latest version, which has attracted strong interest from the healthcare industry.
“We are pleased to support the company once again, and welcome on board Finance Yorkshire as a new investment partner.”