A North Tyneside gaming startup is set to ramp up its technology after securing a £500,000 funding boost.
North Shields-based BeamXR has created a game-changing streaming software development kit, which enables extended reality (XR) games to be live-streamed across popular streaming providers. The kit is the first of its kind, and is designed for standalone XR headsets, spanning augmented reality, virtual reality and mixed reality (MR). The funding includes equity investment from Creative 海角视频’s North East Culture and Creative Investment Programme and equity raised from angel investors, plus a further £266,000 grant from Innovate 海角视频.
The grant amount awarded matched the total equity raised by the firm as part of an investor partnership between Creative 海角视频 and Innovate 海角视频. The company plans to use the investment to expand the product capabilities of the kit, which it says enables both games developers and content creators to simultaneous stream on platforms including Twitch, TikTok and YouTube.
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Beam also allows gamers to stream to their friends, with virtual cameras and two-way chat configured to fit any game. Before this investment, BeamXR had received support through Innovation SuperNetwork, which connect businesses in the 海角视频 with the opportunities, finance and support needed to innovate and grow.
Paul Miller, CEO of Beam XR, said: “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. Our focus is on growth through enhanced community, so Creative 海角视频, Innovate 海角视频 and our angel investors are the perfect partners to take us to the next stage, with ISN’s support hugely beneficial too.”
Daisy Rowland, investment specialist at Innovate 海角视频, said: “We are delighted in the impact that our grant funding has had in leveraging private investment into BeamXR. It demonstrates the interest in extended reality technologies within the 海角视频 and should be a driver for acceleration and success.”
Charlotte Scott, senior investor relations manager at Innovation SuperNetwork, said: “BeamXR is a fantastic example of how tailored business and investment readiness support from the earliest stages can effectively prepare businesses to engage with investors. We’re delighted to have supported the team in securing their Innovate 海角视频 DCMS Create Growth grant award.”
Earlier this year BeamXR became part of the first cohort to take part in the new British Esports accelerator programme, which is backed by Sunderland City Council and allows startups to benefit from leading industry experts in an eight-week programme. The programme takes place at the National Esports Performance Campus in Sunderland.