Thursday, February 22, 2024
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[Funding alert] UK-based Luminous Group Secures £1M in Funding

Luminous Group, established in the UK, raises £1 million. North East Venture Fund led the round, which was overseen by Mercia Ventures and funded by the European Regional Development Fund.

Luminous Group, established in the UK, raises £1 million. North East Venture Fund led the round, which was overseen by Mercia Ventures and funded by the European Regional Development Fund.

With the conclusion of this third round, the company now has almost £1.9m in capital, comprising cash from Mercia’s EIS and the NEVF.

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With the funding, the company is going to broaden the use of its technology and add ten fresh hires in the upcoming year. It will additionally be able to build a new marketplace where instructors can sell their own materials and further enhance its platform to make it fully “self service” so that businesses may design their own training programmes.

The Luminous XR (extended reality) platform, which integrates augmented, mixed, and virtual reality, is provided by Luminus Group, which is led by CEO Ben Bennett and CEO Nigel Hope. It allows users to rapidly and efficiently create training programmes and monitor students’ progress.

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The system can effectively and reliably replicate real-life scenarios, including hazardous conditions, which makes it perfect for manufacturing and energy businesses.

A Middle Eastern energy company has already awarded Luminous a significant contract, and the company recently established an international office in Bahrain. It intends to begin a global marketing campaign and build an office in Saudi Arabia later this year.

About Luminous Group

The objective of Luminous is to become a leading global supplier of digital solutions to the industrial and manufacturing industries, utilising cutting-edge technologies to improve client operations and maintenance protocols.

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