North East metaverse developer land £1M to target US market

Extended Reality (XR) software development firm Luminous XR has raised a further £1m from the North East Venture Fund, supported by the European Regional Development Fund and managed by Mercia Ventures.

Luminous XR’s platform enables developers to create metaverse-style training programmes and simulate real-life scenarios, such as health and safety training. It is particularly popular with clients in the energy, manufacturing and industrial sectors.

The company has also developed a virtual reality content authoring tool, FLOW, which will be launched in late summer. FLOW will simplify and expedite the creation of training content by removing the need to write code.

This latest investment follows the company’s success in securing a seven-figure contract from a major Middle East oil provider for its 3D digital technology. The funds will help the Newcastle-based business deliver the project and target other overseas markets, particularly in the USA, where it has recently established a presence in Texas.

Founded in 2006, Luminous XR now employs 30 staff. In addition to its Newcastle headquarters and Texas, USA presence, Luminous XR also has an office in Bahrain.

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.”