Seed30 July 2024

Luminous XR secures £1m seed follow-on investment from Mercia Ventures and the North East Venture Fund to target US markets.

The extended reality software provider raised £1m to support a major Middle East contract and expand its presence in the US.

£1.0MSeed

Luminous XR is a Newcastle-based software business providing extended reality training platforms and virtual reality content authoring tools for industrial and energy sectors.

Luminous XR has secured £1m in a seed follow-on investment led by Mercia Ventures alongside the North East Venture Fund. The Newcastle-based extended reality software pioneer will use the capital to support a significant Middle East contract and drive expansion into overseas markets, with a particular focus on the United States.

Founded as a 3D mapping specialist before moving into virtual reality, the company provides platforms for creating metaverse-style training programmes. The fresh funding follows the upcoming summer launch of its code-free virtual reality content authoring tool, FLOW, as the firm builds on its existing international presence in Bahrain and Texas.

From the founder

"Luminous is used by the biggest brands in the industrial and manufacturing sectors who have the highest training standards. 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."

Ben Bennett

CEO at Luminous XR

Investor perspective

"Luminous XR’s system enables companies to recreate real-life scenarios and offer more effective training at lower cost. 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."

Chris McCourt

Mercia Ventures