Luminous Group, a Newcastle, UK-based company that provides immersive training programmes for industry using extended reality software, raised £1M in funding.
The round was led by North East Venture Fund, supported by the European Regional Development Fund and managed by Mercia Ventures. The latest round, the third to date, brought the total received by the company to over £1.9m, which included funding from the NEVF and Mercia’s EIS funds.
The company intends to use the funds to roll its technology out to a wider audience and create 10 new jobs in the year ahead. The funding will also enable it to further enhance its platform to make it fully ‘self service’, enabling companies to create their own training programs, and to launch a new marketplace where training providers can sell their own content.
Led by Ben Bennett, CEO, and Nigel Hope (CEO), Luminus Group provides Luminous XR (extended reality) platform – which incorporates augmented, mixed and virtual reality – that enables users to create training programs quickly and efficiently and track students’ progress. The system, which is ideal for energy companies and manufacturers, can recreate real-life situations including hazardous environments in a safe and repeatable way.
Luminous has already won a major contract from a Middle East energy company and recently opened an international office in Bahrain. It plans to open an office in Saudi Arabia later this year, and launch a global marketing campaign.
FinSMEs
08/11/2023