Envoke Raises Additional £1 Million to Enhance Laboratory Simulation Platform
Deal News | May 20, 2025 | Mercia Fund Management (Mercia Ventures)
Envoke, a UK-based company specializing in simulation software for laboratory equipment training, has successfully raised an additional £1 million in funding. The investment was led by NPIF Mercia Equity Finance and matched by Finance Yorkshire's Seedcorn Fund, each contributing £500,000. Envoke's innovative platform, which provides e-learning and remote support capabilities for medical devices, is being used by prominent device manufacturers and health services globally. Founded in 2019 by Stuart Warrington, the company has seen a significant increase in annual recurring revenue and plans to further develop its system, enhance sales and marketing efforts, and create additional jobs. This investment will prepare the company for a forthcoming Series A funding round. Envoke's platform is touted as transformative, likened to flight simulators for pilots, and is gaining traction in the healthcare sector.
Sectors
- Software Industry
- Healthcare Technology
- Venture Capital and Private Equity
Geography
- United Kingdom – Envoke, the target company, is based in Leeds, UK. Investors like Mercia Ventures and Finance Yorkshire operate within this geography.
- Europe – The Northern Powerhouse Investment Fund, part of the funding, is supported by the European Union, with involvement from the European Regional Development Fund.
- Yorkshire and Humber – Envoke's operations and Finance Yorkshire's activities are focused in this region, impacting the local economy and job market.
Industry
- Software Industry – Envoke develops simulation software for laboratory equipment, enabling e-learning and remote training for medical staff.
- Healthcare Technology – The platform serves healthcare services by facilitating lab equipment training and support, impacting healthcare productivity and operational efficiency.
- Venture Capital and Private Equity – The article discusses investment activities by Mercia Ventures and Finance Yorkshire, key players in the venture capital and private equity industry.
Financials
- £1 million – Total funding raised by Envoke, with £500,000 from NPIF Mercia Equity Finance and £500,000 from Finance Yorkshire's Seedcorn Fund.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Envoke | Target Company | Company | A UK-based company that develops simulation software for laboratory equipment training and e-learning solutions. |
| Mercia Ventures | Investor | Company | A venture capital firm that manages NPIF Mercia Equity Finance, investing in innovative companies like Envoke. |
| NPIF Mercia Equity Finance | Investor | Company | Part of the Northern Powerhouse Investment Fund, managed by Mercia Ventures, providing co-investment to Envoke. |
| Finance Yorkshire | Investor | Company | An investment firm providing matched funding through its Seedcorn Fund alongside Mercia Ventures. |
| Stuart Warrington | CEO | Person | Founder and CEO of Envoke, leading the company's strategy and innovation in simulation software. |
| Dawn Tyler | Representative | Person | Representative from Mercia Ventures, commenting on the strategic investment in Envoke. |
| Alex McWhirter | CEO | Person | CEO of Finance Yorkshire, highlighting the growth and sector influence of Envoke. |
| Lizzy Upton | Senior Manager | Person | Senior Manager at the British Business Bank, emphasizing the success of the Northern Powerhouse Investment Fund. |