OSI has returned to back Oxford indoor mapping spinout Navenio as the latter expands the market for its hospital workforce allocation system.
Navenio, a UK-based indoor positioning technology spinout of University of Oxford, today raised £9m ($11m) in a series A round featuring the university and its venture fund Oxford Sciences Innovation (OSI).
The round was led by venture fund QBN Capital, with contributions from commercialisation firm IP Group, superannuation fund Hostplus, investment holding company GK Goh, seed fund Big Pi Ventures and independent fund manager Oxford Investment Consultants.
Founded in 2015, Navenio has developed positioning technology for indoor environments using probabilistic algorithms to estimate the user’s location based on sensors in their smartphone.
Applications include a hospital workforce management software that automatically and securely allocates medical jobs to nearby doctors.
The product, dubbed Intelligent Workforce Solution, is being offered to hospitals struggling to cope with increased patient numbers during the coronavirus pandemic.
As the software relies on mobile indoor positioning, it does not require hospitals to…
