A Sheffield company which provides advanced ‘nurse call’ systems for care homes has secured an £850,000 investment from Traditum Private Equity and NPIF – Mercia Equity Finance, which is managed by Mercia and is part of the Northern Powerhouse Investment Fund (NPIF).
This latest round of funding will enable Arquella to expand its sales and marketing team and target the growing residential care home market across the UK and Europe. Arquella provides its cloud-based advanced nurse call system for adult social care services under the brand AIDA.
Founded in 2017, Arquella received an initial £350,000 investment from NPIF – Mercia Equity Finance in 2020 to enable it to further develop the technology. The platform is currently used in 26 care homes with over 869 care beds.
There are currently 480,000 care beds in the UK and 3.8 million in Europe, with both figures set to rise significantly in line with the ageing population.
Steven Holmes, commercial director at Arquella, 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.”
The investment in Arquella is the first from Traditum’s dedicated health technology team. Iain Marlow, head of investments at Traditum, said: “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, said: “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. Having supported the company since 2020, we are delighted to welcome Traditum as a new investor to help the business to scale up more quickly.”
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.
