UK-based software company Navenio has secured a $6.3m investment to enhance healthcare efficiency worldwide.
The funding round was led by Oxford Science Enterprises (OSE) and supported by Navenio’s existing investors, including G K Goh Ventures, the University of Oxford, George Robinson and Big Pi Ventures.
The company will use the investment to support its expansion into the US healthcare market and boost capacity for patient care delivery teams.
The funding will also be used for further expansion and growth in other geographies, including Europe.
In addition, Navenio plans to build on its technology platform and demonstrate customer value to expedite healthcare momentum.
Navenio CEO Connie Moser said: “This investment will go a long way in helping Navenio to ramp up its offering in the US, as well as in new geographies.
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“We’re on a strong growth trajectory, and accelerating our deployment for real-world impact across healthcare and beyond is our top priority.”
Navenio was founded as a spinout of Oxford University in 2015.
The company’s technology is designed to optimise patient care logistics in complex healthcare settings, offering real-time location tracking for patients, staff and medical equipment.
Its ‘Intelligent Location and Workforce Solutions’ are intended to improve operational efficiency and help clinicians make the best use of resources while creating better revenue opportunities and enhancing staff collaboration.
Oxford Science Enterprises HealthTech head Heather Roxborough said: “We invest in companies with the potential to become leaders in their field, and that is why we’re proud to back the incredible team at Navenio on their latest fundraise.
“Navenio is revolutionising the way we create more efficient healthcare workplaces, through its proven technology-powered platform for indoor mapping, and we are excited to continue supporting the team on the next stage of the company’s journey as they look to deliver its offering to a wider range of use cases and across new geographies.”