Navenio announces £9m in Series A funding for its efficiency-boosting location technology
Posted: 2nd June 2020
Navenio, a spin out company co-founded by Professor Niki Trigoni (Department of Computer Science), has announced an impressive £9m in Series A funding for its infrastructure-free indoor location solutions, which can be used to power a range of apps and platforms in sectors including healthcare.
Of particular interest during the Covid-19 pandemic is the potential use of Navenio’s artificial intelligence (AI) led ‘intelligent workforce solution’ in a hospital setting, where it can assign tasks to healthcare teams based on their location. This will help hospitals to prioritise workload in real-time.
The secure system uses smartphones, with no need for investment in expensive new infrastructure. The benefits of Navenio in healthcare include faster cleaning of infectious areas in hospitals, enhanced visibility of vulnerable patients being moved between hospital departments, and better communication between porters and staff, to ensure that equipment is transported to where it is needed as soon as possible.
The funds will be used to increase the scope of Navenio’s offering in the UK, as well build on existing collaborations in the US and Asia.
Philea Chim, senior vice president at QBN Capital, said, ‘We’re delighted to lead this funding and be closely involved with Navenio’s mission to help frontline teams. Navenio’s technology has the potential to transform the way that organisations deal with tasks across the board for the better.’
Tim Weil, CEO of Navenio, added, ‘Our technology is all about giving hospitals the oversight needed to allocate frontline teams the tasks they are best suited to carry out, in a safe and secure manner - this is critical both for right now, and for the huge patient flow challenge that will be faced as hospitals re-open for business as usual.’
Read more about Navenio here: www.navenio.com