Springtide Ventures buys into Israeli IT firm Bio-Nexus
Springtide Ventures, a venture capital fund and a member of the KKCG Group, has acquired a stake in Bio-Nexus, an innovative Israeli IT company, enlarging its portfolio with another high-potential firm from the information technology sector. This investment underscores the fund’s strategic focus on companies from Central Europe and Israel that have the potential to operate on a global scale and to succeed on advanced markets, particularly those in the U.S. and Europe.
“We are attracted by Bio-Nexus’ huge growth potential around the world as well as its impressive results to date. The Springtide Ventures fund has acquired an initial 20% stake in the company, confirming our focus on fast-growing Central European and Israeli technology firms,” explained Marek Jablonský, Executive Director of Springtide Ventures.
BIO-NEXUS is developing an innovative and unique technology by combining the most modern developments, such as embedded reality, with intuitive solutions guiding field personnel through their tasks and workflows. The company currently focuses on three main industry verticals: large industrial sites (Care-Nexus), emergency medical services (Bio-Nexus Medical) and airliners (Aero-Nexus). ”Our vision is to reduce human errors, create secure environments and save lives. In addition, the platform helps achieve cost savings and efficiencies by bringing tactical and strategic real-time processes into the digital age,” says Ztiki Fuchs, CEO of BIO-NEXUS.
The core competence of Bio-Nexus is the development of its patent-protected Mobile Workflow Engine and the rapid deployment of its flagship mobile workflow-processing platform with service organizations. The platform facilitates field maintenance and critical real-time supervision where accurate execution depends on efficient workflow processing. It could also be described as an end-to-end digital communication platform between the points of event and the command and control center.
The platform helps manage processes characterized by urgency, high costs and risks, such as large industrial site technical checks, aircraft fleet maintenance and emergency medical services.
The company has also integrated its platform with heads-up displays, various headsets and cameras and coupled it with portable wireless devices, such as smartphones and tablets. The system also makes use of speech recognition (hands-free capabilities) to facilitate adherence to protocol and rapid documentation in field environments.
The system has been approved by scores of advanced companies and organizations across its target industry verticals, including the US Navy, NATO, Qantas, Singapore Airlines, Virgin AU, China Air, the VISY Group and Bellevue Hospital, New York, US. The company has approximately 50 different claims for patents that are registered in the US and in 28 additional countries.
“Buying into BIO-NEXUS marks another step in the direction in which we aspire to proceed over the long term. We focus on advanced markets, as we believe that technologies that can be marketed globally have a vast potential. We build on our inherent advantages, such as the size and resources of the KKCG Group, our location in the heart of Europe, IT expertise, extensive experience with market expansion projects, and corporate management know-how,” said Michal Tománek, KKCG’s Investment Director who is responsible for Springtide Ventures within the framework of the KKCG Group.