BeamXR expands with £532,000 backing

A tech company has secured significant funding it says will revolutionise augmented reality, virtual reality and mixed reality gaming experiences.

BeamXR has raised £266,000 through equity investment from Creative UK’s North East Culture and Creative Investment Programme, with additional backing from angel investors.

The funding was matched by a £266,000 grant from Innovate UK, bringing the total to more than £500,000.

Bosses at the firm, based in North Shields, North Tyneside, say the cash will “bring new levels of communication” and “exciting new social spaces” into virtual reality gaming by enhancing BeamXR’s pioneering streaming software development kit, the first designed exclusively for standalone XR headsets.

The software development kit allows developers and creators to seamlessly integrate streaming capabilities with platforms such as Twitch, TikTok and YouTube, while also featuring innovative tools such as virtual cameras and two-way chat, enabling gamers to connect beyond their headsets while playing.

Paul Miller, Beam XR chief executive, said: “We see a fantastic opportunity to bring new levels of communication into virtual reality gaming, providing tools to create exciting new social spaces that will pull more and more people into the virtual reality experience.”

The collective venture between the Culture and Creative Investment Programme, facilitated by Creative UK and Innovate UK, is designed to support growth in the UK’s cultural and creative industries.

BeamXR has also previously benefited from Innovation SuperNetwork’s (ISN) initiatives, which connect businesses with funding and growth opportunities.

Paul said: “Our focus is on growth through enhanced community, so Creative UK, Innovate UK and our angel investors are the perfect partners to take us to the next stage, with ISN’s support hugely beneficial too.”

Sasha Collington, Creative UK investment manager, added: “We’re excited to support BeamXR with their innovative solution to enable live streaming from a standalone XR headset.

“We are looking forward to working with the founders as they build and grow this dynamic business.”

Daisy Rowland, Innovate UK investment specialist, added: “We are delighted in the impact our grant funding has had in leveraging private investment into Beam XR.

“It demonstrates the interest in extended reality technologies within the UK, and should be a driver for acceleration and success for the business.”

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