A UK company whose simulation software enables medical staff to train to use laboratory equipment and troubleshoot problems has raised a further £1m.
NPIF – Mercia Equity Finance, which is managed by Mercia and is part of the Northern Powerhouse Investment Fund, has invested £500,000 matched by £500,000 from Finance Yorkshire’s Seedcorn Fund.
Envoke’s platform, which creates a virtual model of each machine, is the only one of its type that can provide e-learning on medical devices. It also enables manufacturers to offer remote support, reducing the need for site visits, while its AI-powered diagnosis tool allows users to resolve many problems themselves.
Envoke’s clients include leading device manufacturers such as Bio-Rad, Waters Corporation, PacBio, Grifols and the Terumo Group, and the system is now used in laboratories worldwide including in the NHS and other health services as well as leading universities.
Envoke was founded in 2019 by Stuart Warrington and arose from his film and animation production firm. The platform was originally designed for product demonstrations, however it was soon evident that there was an even greater need for a system that could deliver remote training and aftersales.
The Leeds-based company secured £1m from Mercia and NPIF in 2023 to further develop the platform to meet the demand. Following the launch of the new module late last year, the company has won a host of new clients and as a result, has almost doubled its annual recurring revenue in the past 12 months.
The latest funding will allow the business to further enhance the system, boost sales and marketing and roll it out to more customers in the run-up to a Series A investment. Envoke, which currently employs 11 staff, plans to create two new jobs in the coming months.
