Pioneering simulation software company expands with Finance Yorkshire investment
A Leeds based company whose simulation software enables medical staff to train to use laboratory equipment has attracted investment of £1million.
Finance Yorkshire has invested £500,000 from its Seedcorn Fund in Envoke matched by NPIF – Mercia Equity Finance which is managed by Mercia and is part of the Northern Powerhouse Investment Fund.
Envoke’s platform 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 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.
Envoke’s clients include leading device manufacturers such as Bio-Rad, Waters Corporation, PacBio, Grifols and the Terumo Group. The system is now used in laboratories worldwide including in the NHS and other health services as well as leading universities.
The company secured £1m from Mercia and NPIF in 2023. The latest £1m 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, also plans to create two new jobs in the coming months.
Stuart Warrington, CEO, says: “Healthcare services worldwide rely on rapid and accurate laboratory testing. However, training staff is costly and machine downtime is commonplace often due to operator error or simple faults that could easily be fixed with the right support.
“We believe our platform will dramatically improve productivity by enhancing staff skills and keeping equipment up and running while also reducing warranty costs for manufacturers.”
Finance Yorkshire CEO Alex McWhirter said: “Envoke’s success is to be applauded as part of the growing technology and AI sector in Yorkshire and Humber. Finance Yorkshire is pleased to support Envoke as it embarks on the next chapter in its growth strategy.”