Luminous XR, a Newcastle, UK primarily based prolonged actuality (XR) software program supplier, raised an additional £1m in funding.
The North East Enterprise Fund, supported by the European Regional Improvement Fund and managed by Mercia Ventures, made the funding. The most recent funding brings the full raised thus far to £3.55m.
The corporate intends to make use of the funds to focus on different abroad markets, specifically within the US.
The most recent funding follows the corporate’s success in successful a seven-figure contract from a significant Center East oil supplier.
Based in 2006 and led by Ben Bennett, CEO, Luminous XR supplies a platform that permits builders to create metaverse-style coaching applications and simulate real-life eventualities, for instance for well being and security coaching. It’s significantly standard with purchasers within the vitality, manufacturing and industrial sectors. The corporate has additionally developed a digital actuality content material authoring instrument, FLOW, which shall be launched in late summer season and can make it simpler and quicker to create coaching content material by eradicating the necessity to write code.
Luminous XR now employs 30 employees. Along with its Newcastle headquarters, it additionally has an workplace in Bahrain and has just lately established a presence in Texas, USA.
FinSMEs
30/07/2024
