Mercia backs VR software firm with £250k investment
3D technology provider Luminous Group has bagged a £250,000 investment from Mercia Fund Managers.
The Newcastle business has pioneered the use of 3D digital technology in sectors including architecture and construction.
The RIVO software combines 3D with the latest mixed reality holographic computer hardware. It offers digital surveys, using laser scanning to capture every surface of a structure, and can record measurements, identify damage and produce 3D models.
The solution could also enhance fire safety surveys, by drawing up critical information in real time, for example on emergency evacuation points or fire routes.
"Luminous Group has been at the forefront of surveying and measurement since its inception and has pioneered new ways to scan and model buildings," said Ian Wilson, fund manager with Mercia Fund Managers in the North East.
"Its new software is another step forward and could offer huge cost savings for clients, for example by allowing them to demonstrate large items of equipment remotely, re-create environments for training purposes and manage remote plant and equipment [efficiently].
"RIVO has already attracted strong interest from clients and this funding will allow the company to further enhance the product and build its management team."
Luminous Group was founded in 1988 by former mining surveyor Peter Bennett, now chairman.
The company, which also has an office in London, employs 10 staff headed by managing director Ben Bennett and operations director Henry Bennett.