Navenio raises £9m for its indoor location tech
Indoor location tracking platform Navenio has raised £9m in series A funding.
The Oxford-headquartered firm said it will use the new funding to bring its solution to more organisations around the world.
Hospitals, for example, can use Navenio’s AI-led ‘Intelligent Workforce Solution’ to assign tasks to healthcare teams based on their location yo prioritise workload in real-time.
The firm’s system, built on research from the University of Oxford, uses smartphones rather than dedicated infrastructure to track locations.
It claims the technology has been shown to double team throughput.
The series A funding round was led by QBN Capital in Hong Kong and also included G.K. Goh from Singapore, Hostplus from Australia, Big Pi Ventures from Greece, as well as existing backers such as Oxford Investment Consultants. Oxford Sciences Innovation, IP Group plc and the University of Oxford.
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, which is especially important during the long-lasting disruption caused by Covid-19.”