Amsterdam and London-based Naq, an innovator in automated compliance solutions, has announced a €3M funding round to transform healthcare and medical compliance across the UK and the EU. This investment follows a €1.4M pre-seed round aimed at revolutionizing compliance and supply chain security.
The funding round, led by No Such Ventures with additional backing from existing investors, was notably oversubscribed. Sophie Heijenberg from No Such Ventures praised Naq co-founders Nadia Kadhim and Chris Clinton for their deep market expertise and the intuitive nature of their product, which has garnered exceptional customer feedback.
Simplifying Cybersecurity and Compliance
Founded in 2021, Naq aims to address the compliance challenges faced by over 400,000 companies, especially in regulated sectors like healthcare. By offering a cost-effective and streamlined alternative to traditional consultancy, Naq’s platform empowers innovators to meet healthcare frameworks, speeding up the introduction of life-saving solutions to the market.
Streamlining Compliance Processes
Their platform not only simplifies compliance but also ensures the secure verification of supplier compliance for NHS trusts, government departments, and enterprises in the healthcare supply chain. Last year, the platform experienced a 300% growth, highlighting its impact and the demand for such solutions.
Empowering Healthcare Innovators
Co-founder Nadia Kadhim emphasized the challenges healthcare solutions face in reaching the market due to regulatory complexities. Naq was built to empower UK and European innovators to bring their solutions to market more efficiently by simplifying compliance with necessary healthcare frameworks.
Utilizing Capital for Expansion
The latest funding will accelerate the startup’s growth across the UK and Europe and further the development of its automated compliance platform, reinforcing its position as a category-defining solution in the healthcare sector.