DETROIT – Navv Systems, a Detroit-based healthcare technology company focused on hospital personnel location and equipment tracking and location services, announced the close of a $3.2 million seed funding round led by Arboretum Ventures. Detroit Venture Partners also joined the financing along with existing investors including Narrow Gauge Ventures.
Navv has developed an indoor navigation and location services platform called NavvTrack enabling hospitals to better track equipment, personnel, and clinical workflows. The technology was conceived at Henry Ford Innovations, the development and commercialization arm of the Henry Ford Health System (HFHS) and licensed to Navv in 2019. NavvTrack is in use at all six HFHS hospitals, including Henry Ford’s 877-bed facility in Detroit, Michigan to optimize patient transport, housekeeping, and central pharmacy deliveries.
“This financing is an important achievement to support our continued growth with new health system customers,” said Daniel Siegal, M.D, Navv’s Co-Founder and CEO and Vice-chair of Radiology at HFHS. “Asset tracking remains a difficult challenge in need of a holistic solution that encompasses equipment, patients, and clinicians.”
The company has implementations active with two additional health systems and maintains a strong pipeline of new customers. NavvTrack has demonstrated improvements in workflow and cost efficiency by coordinating teams, better estimating task fulfillment timing, and enabling effective supply chain and resource planning. Additionally, the company has an active partnership with Apple leveraging the “indoor GPS” in iOS devices to optimize mobile workflows and enable real-time healthcare.
Tim Petersen, Managing Partner at Arboretum Ventures, has joined the board of directors.
“We’ve been very impressed with the sophistication of Navv’s technology, and the early customer traction Dan and his team have achieved,” said Petersen. “Navv is another prime example of clinician-led innovation emanating from a world-class organization like Henry Ford, addressing an important and immediate healthcare challenge.”