{"id":3145,"date":"2023-11-08T00:00:00","date_gmt":"2023-11-08T00:00:00","guid":{"rendered":"https:\/\/www.techsparx.co.uk\/north\/uncategorized\/newcastle-tech-firm-secures-investment-1m\/"},"modified":"2025-02-28T14:42:22","modified_gmt":"2025-02-28T14:42:22","slug":"newcastle-tech-firm-secures-investment-1m","status":"publish","type":"post","link":"https:\/\/www.techsparx.co.uk\/north\/newcastle-tech-firm-secures-investment-1m\/","title":{"rendered":"Newcastle-based company secures investment for various industries"},"content":{"rendered":"<div class=\"flex-1 overflow-hidden\">\n<div class=\"react-scroll-to-bottom--css-xoydz-79elbk h-full\">\n<div class=\"react-scroll-to-bottom--css-xoydz-1n7m0yu\">\n<div class=\"flex flex-col text-sm gizmo:pb-9 dark:bg-gray-800 gizmo:dark:bg-transparent\">\n<div class=\"group w-full text-token-text-primary border-b border-black\/10 gizmo:border-0 dark:border-gray-900\/50 gizmo:dark:border-0 bg-gray-50 gizmo:bg-transparent dark:bg-[#444654] gizmo:dark:bg-transparent\" data-testid=\"conversation-turn-13\">\n<div class=\"p-4 gizmo:py-2 justify-center text-base md:gap-6 md:py-6 m-auto\">\n<div class=\"flex flex-1 gap-4 text-base mx-auto md:gap-6 gizmo:gap-3 gizmo:md:px-5 gizmo:lg:px-1 gizmo:xl:px-5 md:max-w-2xl lg:max-w-[38rem] gizmo:md:max-w-3xl gizmo:lg:max-w-[40rem] gizmo:xl:max-w-[48rem] xl:max-w-3xl }\">\n<div class=\"relative flex w-[calc(100%-50px)] flex-col gizmo:w-full lg:w-[calc(100%-115px)] agent-turn\">\n<div class=\"flex-col gap-1 md:gap-3\">\n<div class=\"flex flex-grow flex-col max-w-full gap-3 gizmo:gap-0\">\n<div class=\"min-h-[20px] text-message peer flex flex-col items-start gap-3 whitespace-pre-wrap break-words peer-[.text-message]:mt-5 overflow-x-auto\" data-message-author-role=\"assistant\" data-message-id=\"2a8b321b-ea09-4b97-bd26-3bd729c6f2dc\">\n<div class=\"markdown prose w-full break-words dark:prose-invert dark\">\n<p>A Newcastle-based company specialising in immersive training programs for various industries using extended reality software has secured a \u00a31 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.<\/p>\n<p>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.<\/p>\n<p>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.<\/p>\n<p>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.<\/p>\n<p>The funding will also facilitate the enhancement of its platform to become entirely &#8216;self-service,&#8217; 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.<\/p>\n<p>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 \u00a31.9 million, including funding from the NEVF and Mercia&#8217;s EIS funds.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"flex justify-between empty:hidden gizmo:justify-start gizmo:gap-3 lg:block gizmo:lg:flex\">Mercia Ventures is a forward-thinking venture capital firm committed to being the preferred partner for growth. We specialise in equity investments, with the capacity to invest up to \u00a310 million, spanning a wide array of sectors. Notably, we possess expertise in software, consumer, healthcare, and deep tech, ensuring our investments are strategically aligned with these domains.<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"w-full pt-2 md:pt-0 border-t md:border-t-0 gizmo:border-t-0 dark:border-white\/20 md:border-transparent md:dark:border-transparent md:pl-2 gizmo:pl-0 gizmo:md:pl-0 md:w-[calc(100%-.5rem)] absolute bottom-0 left-0 md:bg-vert-light-gradient bg-white dark:bg-gray-800 md:!bg-transparent dark:md:bg-vert-dark-gradient\">\n<form class=\"stretch mx-2 flex flex-row gap-3 last:mb-2 md:mx-4 md:last:mb-6 lg:mx-auto lg:max-w-2xl xl:max-w-3xl\">\n<div class=\"relative flex h-full flex-1 items-stretch md:flex-col\"><\/div>\n<\/form>\n<div class=\"relative px-2 py-2 text-center text-xs text-gray-600 dark:text-gray-300 md:px-[60px]\">ChatGPT can make mistakes. Consider checking important information.<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>A Newcastle-based company specialising in immersive training programs for various industries using extended reality software has secured a \u00a31 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 [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":5930,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[30],"tags":[131],"class_list":["post-3145","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-tech","tag-newcastle"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Newcastle-based company secures investment for various industries - Regional technology news - North - TechSparx - Business technology stories in the North<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.techsparx.co.uk\/north\/newcastle-tech-firm-secures-investment-1m\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Newcastle-based company secures investment for various industries - Regional technology news - North - TechSparx - Business technology stories in the North\" \/>\n<meta property=\"og:description\" content=\"A Newcastle-based company specialising in immersive training programs for various industries using extended reality software has secured a \u00a31 million investment. 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