PixelMax secures £2m in a seed funding round led by Praetura Ventures to expand its team and strategy
Praetura Ventures led the financing alongside ACT Capital Partners to support team growth and market expansion.
PixelMax operates an immersive communications platform that deploys interactive 3D technology to help organisations build virtual worlds for audiences. The business serves clients across sectors including healthcare, manufacturing and events.
Immersive communications platform PixelMax has secured £2m in a seed funding round led by Praetura Ventures, with participation from ACT Capital Partners. The Manchester-based company plans to use the capital to expand its team and develop its go-to-market strategy.
Founded by Andy Sands, Shay O'Carroll and Rob Hilton, PixelMax utilises 3D interactive technology and digital twinning to help organisations create virtual environments for training, simulation and events. Recent projects include collaborations with the NHS and the Chartered Institute of Public Relations.
Praetura Ventures led the financing from its EIS Growth Fund. As part of the transaction, Praetura's Andy Sumner will join the company board as a non-executive director, and Solid Bond Capital co-founder Shaz Sulaman will take up the role of executive chairman.
From the founder
"Right now there is a huge opportunity for PixelMax, but to get to the next level we need an investment partner that can provide strategic guidance and support, as well as an injection of capital. The team at Praetura Ventures not only share our ambitions, they have a track record of supporting businesses just like ours and this deal represents a significant milestone in our growth journey."
Andy Sands
Co-founder at PixelMax
Investor perspective
"PixelMax's innovative technology ensures the business has strong foundations and as the coronavirus pandemic continues to highlight the need for digital innovation across many industries there is a real appetite for the team to capitalise on. The management team is not only incredibly talented and passionate about what they do, they have the grit, resilience and determination that entrepreneurs need to succeed. We're really looking forward to supporting them as they push forward and accelerate the growth of the business."
Mark Lyons
Director of investments, Praetura Ventures
Use of funds
- 01Grow the team
- 02Accelerate go-to-market
