Lab equipment flight simulator secures additional £1 million in funding
In a significant development, Envoke, a UK-based company, has announced the successful raising of an additional 1 million GBP. This investment comes at a crucial time as the company looks to expand its AI-powered e-learning platform for medical devices.
The funding round sees contributions from NPIF - Mercia Equity Finance and Finance Yorkshire's Seedcorn Fund, totalling 1 million GBP. This investment will enable Envoke to further enhance its platform, boost sales and marketing efforts, and prepare for a Series A investment.
Founded in 2019, Envoke originally designed its platform for product demonstrations. However, it has since been adapted for remote training and aftersales, making it a versatile tool in the rapidly evolving medical device landscape.
The platform creates a virtual model of each medical device, setting it apart as the only one of its kind offering e-learning on medical devices. It is currently being used in laboratories worldwide, including in the NHS, other health services, and leading universities.
One of the key features of the platform is its ability to enable manufacturers to offer remote support, reducing the need for site visits. It also includes an AI-powered diagnosis tool for self-resolution of many problems, further enhancing its utility.
Envoke's clientele includes leading device manufacturers such as Bio-Rad, Waters Corporation, PacBio, Grifols, and the Terumo Group. The company's platform is making a measurable difference to the local economy by working with more partners and other businesses in the region.
Lizzy Upton, senior manager at the British Business Bank, commented on the investment, stating, "The second round of investment for Envoke is a testament to the importance of external finance for growth."
By 2027, investments from Finance Yorkshire's growth, seedcorn, and loan funds are expected to total 50 million GBP. During this period, Finance Yorkshire supported 55 SMEs, creating and safeguarding over 700 jobs.
Following the latest investment, Envoke plans to create two new jobs in the coming months. Finance Yorkshire is also planning to make further investments in 2025 after a positive review of its investment performance over the last three years.
This AI-powered platform is revolutionizing medical device training by providing personalized, efficient, and interactive learning for healthcare professionals. It aims to improve learners’ competency and confidence, efficiency, and patient care by enhancing troubleshooting skills and device proficiency.
For more detailed funding information or impact metrics specific to Envoke, you might need to consult company press releases, investor reports, or industry news beyond the current search results.
- The investment from NPIF - Mercia Equity Finance and Finance Yorkshire's Seedcorn Fund will allow Envoke to advance its AI-powered e-learning platform for medical devices, utilizing technology to enhance personalized, efficient, and interactive learning in the health-and-wellness sector, with an ultimate goal of improving the competency and confidence of healthcare professionals, efficiency, and patient care.
- As theEnvoke platform enables manufacturers of medical devices to offer remote support and includes an AI-powered diagnosis tool for self-resolution, science is playing a crucial role in its development as it aims to revolutionize medical device training, making it a key element in the rapidly evolving medical device landscape.
