Thursday, April 18, 2024
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[Funding alert] London-based Naq Secures €3 Million in Funding

London-based Naq secures €3 million in funding to transform medical compliance and healthcare in the EU and the UK.

London-based Naq secures €3 million in funding to transform medical compliance and healthcare in the EU and the UK.

No Such Ventures contributed to the oversubscribed capital round, which got extra backing from current investors. This indicates the market’s confidence in the platform, which is enjoying significant growth across the UK digital health business, less than a year after its pre-seed round.

Read also – London-based OpenDialog Secures over €7 Million in Series A Round Funding

Nadia Kadhim, a GDPR lawyer and Forbes 30 under 30 winner, and Chris Clinton, a former NATO and BAE Systems cyber security expert, created the Amsterdam and London-based firm in 2020.

The news of the fresh funding round comes at a time when it’s getting harder for startups—especially those run by women—to get funding; less than 2% of venture capital funding in Europe goes to female founders.

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Nadia Kadhim, CEO and co-founder of Naq, commented: “Nearly 50% of healthcare solutions fail to make it to market due to the complex regulatory and compliance challenges they face. Those who choose to take on this complexity face overwhelming amounts of manual work and huge sums spent on consultants. That’s why we built Naq: to empower innovators in the UK and Europe to bring their solutions to market by simplifying their compliance with the frameworks required to operate in the healthcare sector. We want to thank the team at No Such Ventures and our existing investors for their continued support and belief in Naq. This latest funding round will help us accelerate our growth across the UK and Europe and further the development of our category-defining automated compliance platform.”

These businesses have a basic issue: in their industries, the only options for compliance have been consultants, who are expensive and complicate an already hard process.

Read also – London-based Metris Energy Secures €2.3 Million in Pre-Seed Funding

This process is being revolutionised by Naq’s automated compliance platform, which makes it possible for innovators to adhere to the healthcare frameworks necessary for their expansion, streamlines compliance, guarantees the security of healthcare data, saves them time, and velocity up the release of life-saving and cost-effective solutions into the healthcare market.

Sophie Heijenberg, investor at No Such Ventures, added: “Nadia and Chris’ expertise within the compliance market stood out for us. Their product is intuitive and gets amazing customer feedback. We are excited to join Naq on its stellar growth trajectory.

About Naq

Naq gives SMEs in the UK and throughout Europe’s highly regulated industries the ability to use compliance as a competitive advantage. Their platform helps organisations meet the complicated criteria established by their consumers, authorities, and the industries in which they operate by automating and simplifying cybersecurity, compliance, and due diligence.

Read also – Berlin-based Deeploi Secures €6 Million in Seed Funding

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