Amsterdam and London-based startup, Naq, has successfully raised €3 million to make healthcare compliance simpler for over 400,000 companies in the UK and the EU. These companies, particularly in highly regulated sectors like healthcare, often struggle to bring new and innovative solutions to the market because of strict compliance and regulatory requirements.

The main challenge faced by these companies is that the existing compliance solutions are often expensive consultants, adding complexity to an already demanding process. Naq's automated compliance platform is changing the game by allowing innovators to comply with essential healthcare frameworks, making compliance more straightforward, securing healthcare data, saving time, and speeding up the introduction of life-saving solutions to the healthcare market.

Not only does Naq benefit innovators, but it also helps NHS trusts, government departments, and big companies to reliably check the compliance status of their suppliers, ensuring the entire healthcare supply chain is secure.

This startup has shown remarkable growth, boasting a 300 percent increase over the last year. Naq had previously secured over €1.37 million in Seed funding and received a £460,000 Smart Grant (€538,000) from Innovate UK.

In today's funding round, which saw more interest than anticipated, No Such Ventures took the lead in investments, with additional support from existing investors. Nadia Kadhim, CEO and co-founder of Naq, expressed her gratitude for the support, highlighting that almost half of healthcare solutions struggle to reach the market due to complex regulatory challenges. Naq aims to simplify this process and empower innovators to bring their solutions to market without the overwhelming burden of compliance complexities.

Nadia Kadhim emphasized the significance of Naq in addressing the challenges faced by healthcare innovators. The funding secured in this round is expected to accelerate Naq's growth across the UK and Europe, further developing their automated compliance platform.

Sophie Heijenberg, an investor at No Such Ventures, praised Naq's founders for their expertise in the compliance market and the positive customer feedback their product receives. She expressed excitement about joining Naq on its promising journey of growth.

Consequently, Naq's success in this funding round signifies a step forward in simplifying healthcare compliance, supporting innovators, and securing the healthcare supply chain across Europe.