A North Tyneside gaming startup, BeamXR, has secured significant funding to enhance its innovative XR streaming technology.
- The company received £532,000, comprising equity and a substantial grant, to push its technology forward.
- BeamXR’s software development kit enables XR games to be streamed across major platforms, marking a pioneering development for XR headsets.
- Investment from Creative UK and Innovate UK underlines the technology’s potential to reshape digital interactions.
- CEO Paul Miller highlights the opportunity to expand communication in VR gaming and foster dynamic social spaces.
BeamXR, a forward-thinking gaming startup based in North Shields, is poised for a major technology expansion following a significant funding achievement of £532,000. This substantial influx of financial support is set to advance their pioneering XR streaming software development kit, which is uniquely designed to enable streaming of extended reality games across widely-used platforms such as Twitch, TikTok, and YouTube.
The funding comprises an equity investment facilitated by Creative UK’s North East Culture and Creative Investment Programme alongside contributions from angel investors. Additionally, the company secured a remarkable grant of £266,000 from Innovate UK, matching the equity raised, which underscores the collaborative effort to bolster BeamXR’s innovative ventures.
The software development kit devised by BeamXR is noted for its groundbreaking application in stand-alone XR headsets, bringing together elements of augmented reality, virtual reality, and mixed reality. This innovation represents a significant shift in how XR games are streamed and experienced, creating new frameworks for both game developers and content creators to engage users across multiple platforms seamlessly.
Paul Miller, CEO of BeamXR, expressed his enthusiasm for the project, emphasizing the potential to enrich communication technology within VR gaming. “We see a fantastic opportunity to bring new levels of communication into VR gaming, providing tools to create exciting new social spaces that will pull more and more people into the VR experience,” he shared, highlighting the evolution towards enhanced community building in digital environments.
The collaboration with Creative UK, Innovate UK, and support from angel investors reflects a strategic alignment aimed at scaling BeamXR’s operations and innovation capacity. Miller noted the critical role these partnerships play in driving the company towards future milestones, particularly with ISN’s support providing further leverage in their expansion initiatives.
BeamXR’s recent funding success marks a pivotal step in advancing XR streaming technology and strengthening community experiences in virtual environments.
