Newcastle-based company secures investment for various industries

A Newcastle-based company specialising in immersive training programs for various industries using extended reality software has secured a £1 million investment. Luminous Group has secured this funding from the North East Venture Fund, which is backed by the European Regional Development Fund and managed by Mercia Ventures.

This injection of capital will enable Luminous Group to expand the reach of its technology to a broader audience and create ten new job opportunities in the coming year. This development comes as the company prepares to establish a third office in the Middle East to support its growing clientele in the region.

Luminous XR (extended reality) platform, encompassing augmented, mixed, and virtual reality, empowers users to efficiently develop training programs and monitor the progress of students. Particularly suitable for energy companies and manufacturers, the system can replicate real-world scenarios, including hazardous environments, in a safe and repeatable manner.

Luminous has already secured a significant contract with a prominent energy company in the Middle East and recently inaugurated an international office in Bahrain. It intends to open an office in Saudi Arabia later this year and launch a global marketing campaign.

The funding will also facilitate the enhancement of its platform to become entirely ‘self-service,’ enabling companies to create their own training programs. Additionally, it will support the launch of a new marketplace where training providers can offer their own content.

Luminous is led by CEO Ben Bennett and CTO Nigel Hope. Mercia Ventures initially invested in the company in 2017 to assist in the development of its platform. This latest funding round marks the third investment to date and brings the total amount received by the company to over £1.9 million, including funding from the NEVF and Mercia’s EIS funds.