Navenio, an Oxford, UK-based company focused on revolutionizing workforce efficiency through indoor location technology, secured a $12.6 million investment.
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.
Oxford Science Enterprises, founded in 2015, is a university-backed investment firm based in Oxford, United Kingdom. The firm prefers to invest in early-stage companies operating in the life sciences, deep tech, health tech, artificial intelligence, and software sectors.
Navenio Use of Funds
The company will use the funding to accelerate its growth in the US market and further its long-term vision of bringing indoor location benefits to a broader audience.
Navenio is a software company that provides location positioning services for indoor environments through its mobile app. Its sensor-based location monitoring system is designed to help transform and improve workforce efficiency in hospitals. The Navenio solution provides a dramatic improvement on other indoor localization technologies, having the ability to locate people without the need for implementing, managing, or surveying any new building hardware such as beacons or Wi-Fi.
Company: Navenio Limited
Funding Month: September 2023
Lead Investors: Oxford Science Enterprises
Additional Investors: QBN Capital, Big Pi Ventures, Future Planet Capital, G.K Goh, Hostplus, Oxford Investment Consultants, IP Group, and the University of Oxford
Company Website: https://navenio.com/
Software Category: Indoor AI-led Location-based Solutions