Lab equipment secures additional £1 million through a flight simulator funding round
In a significant move for the healthcare industry, UK-based tech company Envoice has secured an additional £1 million in funding for its innovative e-learning platform designed for medical device training and troubleshooting. The investment, totalling £500,000 each, comes from NPIF - Mercia Equity Finance and Finance Yorkshire's Seedcorn Fund.
Founded in 2019 by Stuart Warrington, Envoice was initially developed as a platform for product demonstrations. However, Warrington soon recognised its potential for remote training and aftersales, particularly in the medical sector. The platform, unique in its provision of e-learning on medical devices, creates a virtual model of each machine, offering a comprehensive and accessible solution for healthcare professionals worldwide.
This funding will enable Envoice to further enhance its system, boost sales and marketing, and roll it out to more customers in preparation for a Series A investment. The company, which currently employs 11 staff, plans to create two new jobs in the coming months.
The Northern Powerhouse Investment Fund (NPIF) project is supported financially by the European Union using funding from the European Regional Development Fund (ERDF) as part of the European Structural and Investment Funds Growth Programme 2014-2020 and the European Investment Bank. Finance Yorkshire, another key supporter, is preparing to make further investments in 2025 after a positive review of its investment performance over the last three years.
Lizzy Upton, senior manager at the British Business Bank, commented on the investment, stating, "The second round of investment for Envoice shows that businesses can succeed over time with the help of the Northern Powerhouse Investment Fund." Finance Yorkshire's CEO, Alex McWhirter, applauded Envoice's success as part of the growing technology and AI sector in Yorkshire and Humber.
The platform's remote and scalable training solutions, consistent and standardised content, reduced downtime, and cost-effective onboarding and continuous education have already made a significant impact. It is used in laboratories worldwide, including the NHS, other health services, and leading universities. Envoice's success not only creates jobs but also makes a measurable difference to the local economy by working with more partners and other businesses in the region.
In the global healthcare landscape, Envoice's e-learning platform is making strides in improving the accessibility and quality of training related to medical devices. By enhancing the skills of healthcare professionals and technicians in troubleshooting, operation, and maintenance of medical devices, the platform contributes to better device usage, improved patient safety, and compliance with regulatory standards, ultimately strengthening healthcare delivery worldwide.
[1] Parallels can be drawn from the development of similar e-learning modules for technical training, such as the CTBTO's scenario-based e-learning modules for inspection activities.
- This investment in Envoice's e-learning platform, a unique solution for medical device training, underscores the intersection of science, technology, and health-and-wellness, as it aims to enhance the knowledge and skills of healthcare professionals globally.
- As Envoice's platform continues to evolve with technology, it bridges the gap between science and medicine, ensuring better device usage, improved patient safety, and compliance with regulatory standards, thereby revolutionizing the medical devices sector.
