MOONHUB, the virtual reality interactive training platform, has announced an investment of $1.4m (£1.1m) led by Danish VC Unconventional Ventures.
It takes the total raised to $4.5m (£3.57m). Pi Labs and Ada Ventures both followed on their previous investments.
Launched in 2016 by CEO Dami Hastrup with co-founders Vinh Ly and Hannah Sutcliffe, MOONHUB is reshaping learning and development through its CPD-accredited immersive VR learning experiences and patented Spot and Jot technology.
The likes of Just Eat, BNP Paribas, Amazon, Zurich, Warner Brothers, and homecare provider Anglian Care, are all working with the London-based business to support their global workforces.
VR technology streamlines remote training, offering flexibility and accessibility to employees across diverse locations. This adaptable approach ensures the efficient and effective training delivery, irrespective of geographical barriers, further contributing to a seamless learning experience.
The latest investment will be used for product development and new market expansion.
On the raise, CEO and founder Dami Hastrup said: “2024 is a transformational moment for MOONHUB. In the past few years, we’ve worked towards this moment, to become the recognised leader in immersive training, working with global brands that want to support their teams’ development through the use of exciting new technologies.
“Following this investment, we’re supercharging our growth as a business to further establish ourselves across various sectors, from insurance to security. and social care with our ELARA product.
“Our dementia care VR training has a 98 per cent approval rating with countless examples of how our training has made professionals feel more valued, connected and prepared, and the families of care patients being more reassured that their loved ones are in safe hands.
“It’s this type of feedback that inspires our team as we continue to show people the power of immersive learning.”
Nora Bavey, founder and general partner at Unconventional Ventures, added: “Investing in MOONHUB was a clear choice for us as impact investors, driven by the urgent need to close the skills gap and recognizing its significant social impact.
“The potential impact of VR technology on the global economy solidifies our belief in MOONHUB’s role as a transformative force in the training industry, especially in sectors like healthcare.
“By democratizing access to high-quality education and bridging geographical barriers, MOONHUB contributes to greater inclusion and opportunities for individuals from all backgrounds, empowers workers with new skills and enhances their employability.”
Spanning sectors such as facilities management, security, and social care, the platform replicates real-world scenarios to create a hands-on learning environment that’s secure, cost-effective and minimises reliance on physical resources. This produces unique employee insight on skills and performance which enables management to make better informed data-driven decisions.
MOONHUB’s courses expedite training completion in 25 per cent of the time required by conventional methods. Whilst VR technology has been found to increase learning retention to 75 per cent compared to just 10 per cent for more traditional classroom training programmes, and minimises skill fade by 52 per cent.