Foresight invests in Envoke

Foresight Group ("Foresight"), a leading private equity and real assets manager, has invested in Envoke (the "Company"), a UK-based lab simulation software company, following a £1.6m funding round completed alongside other investors.

The company has already attracted major US-based equipment manufacturers including Bio-Rad, ThermoFisher Scientific, PacBio and Haemonetics, as well as the NHS and other health services and universities. It is now keen to target a wider global audience.

Envoke’s platform creates a virtual replica of each machine and uses interactive simulations to show staff how to use it. The system also enables remote troubleshooting and maintenance, which means that many problems can be quickly resolved without calling out an engineer.

The platform has been shown to reduce the number of call-outs by 15-20%, enabling manufacturers to cut servicing costs while increasing revenue from consumables by keeping machines up and running for longer. It helps healthcare providers to avoid disruption to services caused by breakdowns. 

The system also captures real-time data on user competence for the first time, enabling laboratories to see how skilled users drive profitability and where training gaps are costing the business money.

Envoke, which is based in Leeds, was founded in 2019 by Stuart Warrington. The company has recently won a number of major new clients including Hawai’s national blood laboratories and the US-based Mayo Clinic, and is on course to exceed £1m annual recurring revenue (ARR) within the next 12 months. 

The company, which currently employs 16 staff including two in the US, expects to create three to five new jobs in the UK in the year ahead.

Line Gauteplass, Senior Investment Manager at Foresight, said: “Envoke has developed a compelling platform that addresses real operational challenges for both laboratory equipment manufacturers and healthcare providers. The business has already demonstrated strong traction with leading global customers, and we see significant potential as it expands internationally, particularly across Asia‑Pacific. We are pleased to support Stuart and the team as they scale the business and build on this next phase of growth.”

Foresight invests in promising growing companies, providing equity or debt to meet the needs of founders, management teams, and specialist lenders wherever they are on their journey. Foresight works with the growing companies it supports to enable founders and management teams to build resilient and prosperous companies to deliver strong economic returns and to have a positive impact on the societies in which they operate.