A ‘GPS for indoors’ scaleup is looking to expand in the United States following its latest fundraise.
Navenio, which serves the healthcare sector, has secured £9.5 million investment to power its bid to bring the benefits of indoor location ‘to everyone, everywhere’.
Its infrastructure-free indoor location solutions, the equivalent of GPS for use indoors, power a range of apps and platforms in sectors including healthcare.
The round was led by Oxford Science Enterprises, and saw the majority of Navenio’s existing investors participate, including QBN Capital, Big Pi Ventures, Future Planet Capital, G.K Goh, Hostplus, Oxford Investment Consultants, IP Group, and the University of Oxford.
“I’m delighted our investors have again demonstrated their belief in the vast potential that Navenio can bring by ensuring ‘right person, right place, right time’,” said founder and CTO Niki Trigoni.
“Artificial intelligence is one of many technologies making a real-world impact in the health sector, and this investment enables the company to rapidly spearhead international digital transformation.”
Navenio has already forged strong relationships with health systems and facilities management operators in the UK and US.
Following recent funding from NHSX, as part of an AI in Health and Care Award, Navenio is also currently developing a proven and nationally scalable evidence base to further support improved patient flow across the health economy.
Going beyond healthcare, relationships such as that with HERE Technologies, will see the ground-breaking indoor location tech deployed in many more verticals.
Matt Arnold, principal at Oxford Science Enterprises commented: “We’ve supported Navenio since day one and couldn’t be happier with the progress they have made despite the pandemic.
“We are proud of the impact this business has made in healthcare and this investment gives the company the firepower to deliver this promise internationally.”