Wednesday, July 6, 2022

News: Funding boost for Arquella and its unique app for the care home sector


Rotherham-based company Arquella, who have developed a cost effective and cutting edge app for the care home sector that eases red tape, has secured an £850,000 investment to aid further growth.

The Dinnington firm offers a unique "moment of care app" which is designed to replace outdated and unintegrated pager and paper systems that much of the industry relies on.

The investment comes from two entities – Leeds-based Traditum Private Equity and the Northern Powerhouse Investment Fund (NPIF) which is managed by Mercia Equity Finance which focusses on supporting businesses in Yorkshire, Humber and Tees Valley.

The funding coincides with a care sector study released this month, which showed that 86% of respondents felt the industry was weighed down by red tape and that ‘vital aspects of care provision are suffering at the hands of outdated and time-consuming procedures, with many staff struggling to fulfil their day to day roles’.

Arquella’s unique technology provides a time efficient management system for care homes teams. The app integrates data through ‘touch of a button’, one of a kind, cloud-based tech to not only create and deliver planned care but to accurately record and monitor reactive care in real time, in line with the Care Quality Commission (CQC) standards.

This second round of funding will enable Arquella to continue to expand and target the rapidly expanding residential care home sector across the UK and Europe.

Founded in 2017, Arquella received funding of £350,000 from NPIF – Mercia Equity Finance in 2020 to enable them to develop the technology.

Steven Holmes, Commercial Director at Arquella, said: "We built Arquella to resolve problems that we face as a society with a rapidly ageing population and increased demands on the care home sector. We know that the (UK) 60+ population will increase by 260% by 2050. Arquella has been designed to be at the forefront for creating solutions.

"We are excited about our new partnership with Traditum, and are extremely proud to have received further funding from Mercia, who have supported us and enabled us to develop our proprietary technology.

"To have our progress and vision recognised by such investors is a huge compliment. The new funds will enable us to scale more quickly by growing our sales and marketing activity and our international sales channels.

"Traditum Private Equity enables flexible investments for clients and investee companies across sectors such as Healthtech, Sustainability and Agriculture. Taking a more traditional approach to investments, Traditum aligns experienced Investors with known sectors and businesses to add value to each transaction, applying a flexible, innovative and unique equity structures which are sympathetic to long term business planning."

Iain Marlow, Head of Investment at Traditum, added: "The investment in Arquella is the first from Traditum’s dedicated health technology team. Arquella have created a unique solution to the problem that faces the care sector, a single AI driven, integrated technology platform that automates activity to reduce administration, whilst providing management with information that exceeds CQC demands."

Dan Thomas, Investment Manager at Mercia, added: "Care homes are a fast growing market but the sector still relies largely on outdated technologies. Arquella’s next-generation systems offer huge potential to reduce the burden on carers and use data to improve safeguarding and efficiency. Having supported the Sheffield based company since 2020, we are delighted to welcome Traditum as a new investor. Mercia has been set up to invest in innovative business with a focus on Yorkshire, Humber and the Tees Valley."

Mick Morris of Compellor 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 diligence advice to Traditum.

Arquella website
Taditum website
NPIF website

Images: Arquella


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