Envoke, a Leeds company that produces software for remote medical training and support, is targeting the Asia-Pacific market after raising \u00a31.6 million from existing backers Mercia Equity Finance, part of the Northern Powerhouse Investment Fund, and Finance Yorkshire\u2019s Seedcorn Fund, with additional participation from new investor Foresight Group.<\/p>\n\n\n\n
Founded in 2019 by Stuart Warrington, the company has secured contracts with the Mayo Clinic and national blood laboratories in Hawaii. It is currently on track to pass \u00a31 million in annual recurring revenue over the coming year. The business also serves the NHS, various universities, and several equipment manufacturers such as Bio-Rad and ThermoFisher Scientific.<\/p>\n\n\n\n
The software platform develops virtual versions of laboratory hardware and uses simulations to train staff. This technology also allows for remote maintenance and troubleshooting, which often removes the need for physical engineering visits. Data suggests the system reduces call-outs by 15% to 20%, helping manufacturers lower costs and assisting healthcare providers in avoiding service delays. This latest round of investment takes the total capital raised by the firm to over \u00a34 million.<\/p>\n\n\n\n
The company currently has 16 employees, including two staff members based in the US, and intends to hire between three and five additional people in the UK during the next 12 months. <\/p>\n\n\n\n
Stuart Warrington, CEO, Envoke, said: \u201cLaboratory equipment is challenging to operate and technical problems are commonplace. Each service call-out typically costs manufacturers $2,500 and a breakdown can seriously disrupt health services by delaying critical test results. Envoke is tackling these problems. Customer feedback shows our system helps laboratories to reduce downtime and provide more consistent operator training, while enabling manufacturers to cut service costs and boost revenue.\u201c<\/p>\n\n\n\n
Image source: LinkedIn<\/p>\n\n\n\n
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Envoke, a Leeds company that produces software for remote medical training and support, is targeting the Asia-Pacific market after raising \u00a31.6 million from existing backers Mercia Equity Finance, part of the Northern Powerhouse Investment Fund, and Finance Yorkshire\u2019s Seedcorn Fund, with additional participation from new investor Foresight Group. Founded in 2019 by Stuart Warrington, the […]<\/p>\n","protected":false},"author":4,"featured_media":6868,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[18,209,30],"tags":[113],"class_list":["post-6867","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-funding","category-investment","category-tech","tag-leeds"],"yoast_head":"\n