The funding was provided by the North East Venture Fund and managed by Mercia Ventures to support international expansion and product development.
"While it is still early days for the ‘metaverse’, VR and XR technologies have matured significantly and the launch of Apple’s first mixed-reality headset next year is expected to boost awareness and drive global demand. The funding received from Mercia puts Luminous in a strong position to capitalise on that."
The funding round was led by JamJar Investments and brings the company's total money raised to £7.8m.
"Solo travel has continued to grow in popularity as people look to expand their horizons and make up for lost time, but in the last two years, we have also seen an increased appetite for building meaningful connections through travel. We’re proud to be doing our part in helping to make cities like London less isolated, with 80% Flashpackers staying in touch after their trip. The recent investment indicates the value in this growing trend and we’re incredibly excited to continue this success worldwide."
Senzo Health has secured £1.4m in funding to further develop its Amplified Lateral Flow diagnostic technology.
"When a PCR test is able to pick something up early, we’re able to pick it up. Our limit of detection is somewhere between 1,000 and 10,000 times better than current lateral flow tests, much closer to PCR levels. What the market doesn’t need is another test that is just a screen on the front end … what we need are tests that are tests of record that can be acted on. That requires performance that is at the level of current central lab PCR tests,"
EMURGO Africa invested in the carbon market technology company to support blockchain-based environmental credits.
"Our investment in ChangeBlock is in line with our commitment to foster the development of climate change reversal technologies and impactful solutions on Cardano’s third-generation and environmentally-sustainable blockchain."
— Ahmed Amer, CEO of EMURGO Africa and Executive Director of EMURGO MEA
Beech Tree Private Equity has backed the cyber-attack simulation platform to drive its organic growth and product development.
"We have been thrilled with the growth that we have achieved since we launched in 2020 and we see this investment from Beech Tree as the natural next step in our growth journey, allowing us to scale up even faster, accelerate our development plans for our OOC platform and ultimately ensure that we remain one step ahead of the “bad actors” out there"