A UK company whose software provides remote training and support for medics using complex laboratory equipment has set its sights on the Asia-Pacific market after raising a further £1.6m.
Envoke has secured the funding from existing investors NPIF – Mercia Equity Finance, which is managed by Mercia and is part of the Northern Powerhouse Investment Fund, and Finance Yorkshire’s Seedcorn Fund, alongside new investor Foresight Group.
The company has already attracted major US-based equipment manufacturers including Bio-Rad, ThermoFisher Scientific, PacBio and Haemonetics, as well as the NHS and other health services and universities. It is now keen to target a wider global audience.
Envoke’s platform creates a virtual replica of each machine and uses interactive simulations to show staff how to use it. The system also enables remote troubleshooting and maintenance, which means that many problems can be quickly resolved without calling out an engineer.
The platform has been shown to reduce the number of call-outs by 15-20%, enabling manufacturers to cut servicing costs while increasing revenue from consumables by keeping machines up and running for longer. It helps healthcare providers to avoid disruption to services caused by breakdowns. The system also captures real-time data on user competence for the first time, enabling laboratories to see how skilled users drive profitability and where training gaps are costing the business money.
Envoke, which is based in Leeds, was founded in 2019 by Stuart Warrington. The company has recently won a number of major new clients including Hawai’s national blood laboratories and the US-based Mayo Clinic, and is on course to exceed £1m annual recurring revenue (ARR) within the next 12 months.
The latest funding brings the total raised to date to over £4m. The company, which currently employs 16 staff including two in the US, expects to create three to five new jobs in the UK in the year ahead.
Stuart Warrington, CEO, says: “Laboratory 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.“
Dawn Tyler of Mercia Ventures added: “Envoke has come a long way since our original investment three years ago. The company has built an impressive client base among US multinationals, achieved very positive customer feedback and launched a new platform that is the most powerful to date. With growing global demand for virtual training and maintenance systems, it is now well positioned to reach out to an even wider international audience.”
Finance Yorkshire CEO Alex McWhirter said: “Envoke is a trailblazer in the health care technology sector with its solutions attracting a worldwide customer base. Finance Yorkshire is pleased to support the company in its next stage of growth and ambition to compete in the Asia-Pacific market.”
Line Gauteplass, Senior Investment Manager at Foresight Group, said: “Envoke has developed a highly compelling platform that addresses real operational challenges for both laboratory equipment manufacturers and healthcare providers. The business has already demonstrated strong traction with leading global customers, and we see significant potential as it expands internationally, particularly across Asia‑Pacific. We are pleased to support Stuart and the team as they scale the business and build on this next phase of growth.”
Debbie Sorby, Senior Investment Manager at the British Business Bank, said: “It is encouraging to see the Northern Powerhouse Investment Fund continuing to support Envoke as it advances through its growth journey, illustrating how the fund enables businesses to scale over time. The company has made strong progress to date, establishing a robust customer base and delivering technology that addresses well‑defined challenges in laboratory training and maintenance.”
The British Business Bank has now launched the £660m Northern Powerhouse Investment Fund II (NPIF II) which covers the entire North of England and provides loans from £25k to £2m and equity investment up to £5m to help a range of small and medium sized businesses to start up, scale up or stay ahead.