- North East creative tech company, BeamXR has raised £150,000 of equity investment from Creative UK’s Culture and Creative Investment Programme (CCIP) as part of a wider funding round
- Innovate UK grant awarded to BeamXR with Creative UK as investor partner
- Investment to support expansion of BeamXR’s first-of-its-kind streaming software development kit (SDK) for standalone XR headsets
In a win for England’s North East region, Newcastle creative tech (createch) company, BeamXR has secured half a million pounds of funding. The funding comprises equity investment from Creative UK’s North East Culture and Creative Investment Programme and equity raised from angel investors, plus a further £266k grant from Innovate UK. The grant amount awarded matched the total equity raised by the createch firm as part of an investor partnership between Creative UK and Innovate UK.
With this investment, BeamXR will expand the product capabilities of their game-changing streaming software development kit (SDK). The first of its kind, BeamXR’s SDK is designed specifically for standalone XR headsets, spanning augmented reality (AR), virtual reality (VR) and mixed reality (MR). The software enables both games developers and content creators to elevate their products with the capability for simultaneous streaming on platforms including Twitch, TikTok and YouTube. Beam allows communication beyond the headset so any gamer can stream to their friends, with virtual cameras and two-way chat configured to fit any game.
The investment and grant into BeamXR is a collective venture between the Culture and Creative Investment Programme (CCIP), facilitated by Creative UK, and the UK’s national innovation body, Innovate UK. Creative UK, which advocates for the growth of the creative sectors across the UK, is also a lead delivery partner on the DCMS Create Growth Programme which works to support the regional development of the Cultural and Creative industries.
Prior to this investment, BeamXR received support through Innovation SuperNetwork, who connect businesses in the UK with the opportunities, finance and support needed to innovate and grow.
“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.”
Paul Miller, CEO of Beam XR
“We’re excited to support BeamXR with their innovative solution to enable live streaming from a standalone XR headset. We are looking forward to working with the founders as they build and grow this dynamic business.”
Sasha Collington, Investment Manager at Creative UK, who led on this investment round for the CCIP
“We are delighted in the impact that our grant funding has had in leveraging private investment into Beam XR. It demonstrates the interest in extended reality technologies within the UK and should be a driver for acceleration and success for the business.”
Daisy Rowland, Investment Specialist at Innovate UK
“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. Paul and his Co-Founders worked with several members of the Innovation SuperNetwork team before pursuing funding. We’re delighted to have supported the team in securing their Innovate UK DCMS Create Growth grant award and aligned investment to support this vision.
Charlotte Scott, Senior Investor Relations Manager at Innovation SuperNetwork
“BeamXR is an example of the creative excellence here in the North East. Our purpose is to champion the full potential of our region, and this investment from Creative UK and Innovate UK enables us to do that. We can’t wait to see what this means for BeamXR, and how it will benefit the North East as a whole.”
Cllr Amanda Hopgood, the North East Combined Authority’s Cabinet member for culture, creative and tourism
Creative UK is the national network for the Creative Industries. We are an independent membership organisation that champions the value of the Creative Industries. We know that talent is everywhere, but opportunity is not. Creative UK connects talent, business and organisations across the Creative Industries; from arts and culture, film and TV and video games to design, publishing and architecture and everything in between. We invest by identifying untapped potential to accelerate growth, providing tailor made resources and financial expertise. We do all of this because we believe in the power of creativity to change lives.
About the Culture and Creative Investment Programme (CCIP)
Creative UK delivers the Culture and Creative Investment Programme (CCIP), an investment and business support offer for businesses and freelancers in the Cultural and Creative Industries based in Newcastle, North Tyneside, and Northumberland. Through the CCIP we are investing over £3 million through grant loans and equity on behalf of the North East Combined Authority, as sustainable finance for businesses that are innovative, operate in the creative and culture sector, and can deliver meaningful impact in the region.
About the Create Growth Programme
Creative UK is also working with partners in the North East to deliver the DCMS-funded Create Growth Programme which supports creative businesses to explore and secure commercial investment opportunities.
Designed as an intensive investment readiness programme, the North East Create Growth Programme caters to businesses with ambitious goals for securing commercial investment. This opportunity is available to businesses in Newcastle, Gateshead, North Tyneside, Northumberland, County Durham, Sunderland, or South Tyneside. The Create Growth Programme is funded by the DCMS, in lead partnership with the North East Combined Authority and lead delivery partner, Creative UK.
About Innovate UK
Innovate UK, part of UK Research and Innovation, is the UK’s innovation agency. Our mission is to help companies to grow through their development and commercialisation of new products, processes and services, supported by an outstanding innovation ecosystem that is agile, inclusive and easy to navigate. Innovate UK are partnering on the Investment element of the Create Growth programme
Innovation SuperNetwork is the innovation arm of UMi. It exists to enable inclusive and sustainable economic growth that transforms and increases opportunities and prosperity for businesses and people.
Innovation SuperNetwork receives public funding to deliver innovation and access to finance support to businesses from the North East Combined Authority, Gateshead Council, North Tyneside Council, Sunderland City Council, Tees Valley Combined Authority and Innovate UK. For more information visit:
