Tech company gets £850,000 boost | Yorkshire Deals News
A Rotherham-based technology company, which provides ‘nurse call’ systems for care homes, has secured an investment of £850,000 which will be used to expand its team and target growth in the UK and Europe.
Arquella was founded in 2017 and provides its advanced cloud-based nurse call system for adult care services under the AIDA brand.
The system aggregates data to provide caregivers with real-time information about their residents’ needs, maximizing the time they spend with residents and improving the quality of care.
The platform is currently used in 26 nursing homes with more than 869 care beds.
The company has received funding from Traditum Private Equity and NPIF – Mercia Equity Finance, which is managed by Mercia and is part of the Northern Powerhouse Investment Fund (NPIF).
It follows an initial investment of £350,000 from NPIF – Mercia Equity Finance in 2020 to enable it to further develop the technology.
The new funds will be used to strengthen its sales and marketing team and target the growing retirement home market in the UK and Europe.
Steven Holmes, Commercial Director at Arquella, said: “We are extremely pleased to receive new investment from Mercia, with whom we have always had a strong and supportive relationship, and we are very pleased with our new partnership with Traditum.
“To have our progress and our vision recognized and accepted by an investor with so much experience in health technology is a huge compliment.”
The investment in Arquella is the first from Traditum’s dedicated healthcare technology team.
Iain Marlow, Chief Investment Officer at Traditum, said: “Arquella’s management team has created a truly differentiated system capable of providing better monitoring and efficient management of residential and home patient care. We are delighted to join the company at this exciting stage of development and look forward to supporting the company in improving patient care. »
Dan Thomas, Investment Manager at Mercia, added: “Retirement homes are a growing market, but the sector still relies heavily on old-fashioned technology. Arquella’s next-generation systems offer enormous potential to reduce the burden on caregivers and use data to improve backup and efficiency. After supporting the company since 2020, we are delighted to welcome Traditum as a new investor to help the company grow faster.”
Compellor’s Mick Morris provided fundraising advice to Arquella on the latest investment. Andrew O’Mahony and Daniel Hayhurst of Brabners provided legal advice to Traditum. Jim Gribbon and Andy Sims of Venture Axis provided software due diligence advice to Traditum.