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, claimed to be is the first of its kind, is designed for standalone XR headsets, spanning augmented reality, virtual reality and mixed reality (MR). The funding includes equity investment from Creative UK’s North East Culture and Creative Investment Programme and equity raised from angel investors, plus a further £266,000 grant from Innovate UK.
The grant amount awarded matched the total equity raised by the firm as part of an investor partnership between Creative UK and Innovate UK. 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.
Paul Miller, chief executive 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 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.”
