Mercia’s North East Venture Fund has invested £1 million in Newcastle-based extended reality (XR) training company Luminous Group. Originally founded in 2004 as Digital Surveys, the company initially focused on 3D mapping for the construction sector. In 2016, it transitioned to deploying its 3D modeling technology in augmented and virtual reality.
Now operating as Luminous, the company provides developers with the tools and infrastructure to create metaverse-style virtual training programs, catering primarily to clients in the manufacturing, industrial, and energy sectors. Following a recent contract win, Luminous expanded to Bahrain, with plans to establish a presence in Saudi Arabia by year-end.
Ben Bennett, CEO of Luminous Group, highlighted the potential of VR and XR technologies, noting the anticipated boost in awareness and global demand with the upcoming launch of Apple’s mixed-reality headset. The £1 million investment from Mercia positions Luminous to capitalize on this trend.
In response to the funding, Luminous Group plans to grow its team by 10 members in the next year and enhance its software by introducing a training program marketplace for third parties. Chris McCourt, investment director at Mercia, emphasized the need for more effective and immersive training solutions in industries burdened by expensive and outdated techniques, expressing optimism about the impact of Luminous Group’s virtual training platform.
As part of its growth strategy, the company is establishing a third office in the Middle East to support its increasing client base in the region. Luminous XR, the company’s extended reality (XR) platform, incorporates augmented, mixed, and virtual reality, allowing users to efficiently create training programs and monitor students’ progress.
The XR platform is particularly suitable for energy companies and manufacturers, enabling the recreation of real-life scenarios, including hazardous environments, in a safe and repeatable manner. Luminous has already secured a major contract with a leading Middle East energy company and recently inaugurated an international office in Bahrain.
The company’s expansion plans include opening an office in Saudi Arabia later in the year and launching a global marketing campaign. The funding will also support the development of a fully ‘self-service’ platform, allowing companies to independently create their own training programs. Additionally, Luminous intends to introduce a new marketplace where training providers can sell their own content.
Luminous is led by CEO Ben Bennett and CTO Nigel Hope. Mercia Ventures initially invested in the company in 2017 to aid in the development of its platform. This latest funding round, the third to date, brings the total investment in the company to over £1.9 million, including contributions from the NEVF and Mercia’s EIS funds.