A significant investment has been secured by BeamXR, a North Tyneside-based gaming startup, promising technological advancements.
- BeamXR has developed an innovative streaming software for XR games, allowing live broadcasts across major platforms.
- The funding comprises equity investments from Creative UK’s North East Culture and Creative Investment Programme, angel investors, and a grant from Innovate UK.
- The company plans to expand its software’s capabilities to enhance communication within VR gaming.
- Paul Miller, CEO of BeamXR, envisions the investment as a pathway to create engaging social VR spaces.
BeamXR, a promising startup situated in North Tyneside, has successfully secured a substantial funding boost to enhance its technological capabilities. The funding, amounting to over £500,000, aims to propel the company into a new phase of growth and innovation.
The company has created groundbreaking streaming software that facilitates the live broadcast of extended reality (XR) games across popular streaming services. This software development kit is touted to be the first of its kind, designed explicitly for standalone XR headsets, covering augmented reality (AR), virtual reality (VR), and mixed reality (MR).
The financial support includes equity investment from Creative UK’s North East Culture and Creative Investment Programme, alongside angel investors. Additionally, BeamXR has been awarded a £266,000 grant by Innovate UK, matching the equity raised through the investor partnership.
BeamXR’s strategic plan involves leveraging this investment to broaden the functionality of their streaming software. The goal is to empower both game developers and content creators by enabling simultaneous streaming on platforms such as Twitch, TikTok, and YouTube.
In light of this development, Paul Miller, the CEO of BeamXR, expressed his optimism about the opportunities this funding brings. He highlighted the potential to bring new communication dimensions into VR gaming, fostering vibrant social spaces that enhance the VR experience.
With this pivotal funding, BeamXR is poised to lead significant advancements in XR gaming technology.
