Nurse call systems firm Arquella secures investment
Sheffield-based Arquella, which provides advanced nurse call systems for adult social care services and care homes has secured £850,000 from Traditum Private Equity and NPIF – Mercia Equity Finance, which is managed by Mercia and is part of the Northern Powerhouse Investment Fund (NPIF), The Business Desk has reported.
Founded in 2017, Arquella provides nurse call system under the brand AIDA. Its app-based and hand-held devices aggregate data providing carers with real-time information on residents’ needs. The platform is used in 26 care homes with 869 care beds.
The funding will be used by Arquella to expand its sales and marketing team and target the residential care home market in the UK and continental Europe.
Arquella received an initial £350,000 investment from NPIF – Mercia Equity Finance in 2020 for technology development.
Arquella’s commercial director Steven Holmes said: “We’re extremely pleased to receive further investment from Mercia, with whom we have always enjoyed a strong and supportive relationship, and we’re very excited about our new partnership with Traditum. To have our progress and vision recognised and bought into by an investor with so much experience in the healthcare technology space is a huge compliment.”
Traditum’s head of investments Iain Marlow added: “The management team of Arquella have created a truly differentiated system which is able to provide greater oversight and effective management of care to residential and domiciliary patients. We are pleased to be joining the business at this exciting stage of development and look forward to supporting the business to improve patient care.”
Dan Thomas, investment manager at Mercia, commented: “Care homes are a fast-growing market, but the sector still relies largely on old-style technology. Arquella’s next-generation systems offer huge potential to reduce the burden on carers and use data to improve safeguarding and efficiency.”
Sean Hutchinson at British Business Bank said: “The Northern Powerhouse Investment Fund is pleased to have supported a company providing a crucial digital offering to the care sector. The positive impact it has for its customers is something that NPIF is proud to be a part of, and we look forward to seeing how the latest investment will take them to the next level.”
Compellor provided fundraising advice to Arquella on the investment. Brabners provided legal advice to Traditum, with Venture Axis providing software diligence advice.