UK startup Luminous XR, which helps developers design, build, and deliver immersive XR training content, has raised £1 million from the North East Venture Fund, supported by the European Regional Development Fund, and managed by Mercia Ventures.
- Founded in 2006 by Ben Bennett, Luminous XR develops a SaaS platform that provides tools for creators, developers, and enterprises to create, manage, and distribute virtual training experiences, improve workforce skills, and share courses worldwide.
- With offices in Bahrain, the United Kingdom, and the US, the startup employs a team of 30 and has partnered with several prominent companies, including HTC, Microsoft HoloLens, Meta, XR Bootcamp, and Magic Leap.
- In late summer, Luminous XR plans to launch FLOW, a virtual reality content authoring tool, which simplifies training content creation by eliminating the need for code writing.
Details of the deal
- The investment came from Mercia Ventures through the North East Venture Fund, supported by the European Regional Development Fund. The fund supports startups operating in various fields, including software, commercial services, transportation, HR tech, and 3D printing, with size tickets ranging from GBP 100,000 to GBP 2 million.
“With the use of virtual reality growing worldwide, companies are waking up to its potential. The latest funding will enable Ben and the team to capitalise on this trend and continue their growth by targeting the US and other global markets," VC Investor at Mercia Ventures, Chris McCourt, stated.
- With the capital, Luminous XR plans to further expand its sales and marketing efforts and enter new markets, particularly in the US.
"Our XR platform is paving the way for the adoption of Extended Reality training, providing a scalable, secure solution with many advanced features. The current funding round will now allow us to grow our sales and marketing as we expand globally," CEO of Luminous XR, Ben Bennett, commented.
