Luminous XR funding news – UK-based Luminous XR Secures £1Million in Funding

Since its initial investment in 2017, Mercia has supported the company financially, contributing rounds of funding from both its own reserves and the NEVF to help it advance its products and expand. With this current financing, £3.55 million has been raised in total.

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With Luminous XR's platform, developers may design training programs that mimic real-world situations and are modelled after the metaverse, such as health and safety instruction. Clients in the manufacturing, energy, and industrial sectors especially like it.

The company has also created FLOW, a virtual reality content production tool that will be available in late summer and eliminate the need for coding to generate training materials more quickly and easily.

Ben Bennett, CEO of Luminous XR, said: “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.”

Chris McCourt of Mercia Ventures added: “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.”

The company's recent investment comes after it was successful in securing a seven-figure contract with a significant Middle Eastern oil source. It will assist the Newcastle-based company in completing the project and pursuing international markets, especially those in the US.

About Luminous XR

Luminous XR was founded in 2006 as a 3D mapping specialist, Luminous XR moved into virtual reality ten years later. They help developers, service providers and enterprise customers design, build and deliver immersive XR training content, through our content creation tool for Unity (FLOW) and their SaaS platform for managing users and content (PORTAL).