Virtual reality training startup Moonhub has raised $1.4 million from Unconventional Ventures, taking its total funding to $4.5 million.
The London-based startup, which was founded in 2016, offers immersive training to a range of companies through its VR platform.
"We allow people to learn on the job, and also complete any corporate training, through VR," said cofounder and CEO Dami Hastrup.
"When my cofounder and I were younger, we worked in retail, and the trainings weren't really very effective," he told BI. In a bid to simplify these processes, Hastrup built Moonhub so it could offer personalized training scenarios to industries such as facilities management and security.
Moonhub offers various training packages, including a bespoke option; the startup works with its client to create a storyboard for its training content, developing a production plan for that scenario, and filming it on location so it can be uploaded onto the VR headsets.
"Imagine a security officer who is casing a particular scenario — in the VR training for bespoke services, we film this scenario on site," Hastrup said. "There's everything from hazard perception scenarios, and it empowers them to be more confident in their skills and be alert to spot this."
The startup has found a lot of traction from clients in the security and dementia care space. It has also partnered with a host of corporate clients, including BNP Paribas, Just Eat, Mitie, and Amazon. Moonhub makes its money by charging clients for a user license.
With the release of Apple's Vision Pro headset, the use cases of VR within corporate settings has once again been spotlighted.
Amid a "confusing" funding environment characterized by "shifting goalposts for startups that were fundraising" in 2023, Hastrup decided to grow Moonhub at the team's own pace. "We wanted to raise a round last year to enable us to build bespoke and shelf training," he added.
The round was led by Danish venture capital firm Unconventional Ventures, with participation from Pi Labs and Ada Ventures. This brings the startup's total funding to $4.5 million.
With the fresh funds, Moonhub will grow its commercial traction and develop its existing training resources.
Check out the 13-slide pitch deck used to secure the funds.
