MOONHUB, the virtual reality interactive training platform, has announced a $1.4 million (£1.1 million) investment headed by Danish venture capital firm Unconventional Ventures. The company aims to use this funding round to develop new products and expand into new markets.
MOONHUB, founded in 2016 by CEO Dami Hastrup and co-founders Vinh Ly and Hannah Sutcliffe, is transforming learning and development with its CPD-accredited immersive VR learning experiences and unique Spot and Jot technology. The firm strives to empower and better equip its trainees while providing cost-effective solutions to its partners. Just Eat, BNP Paribas, Amazon, Zurich, Warner Brothers, and homecare provider Anglian Care are all partnering with the London-based company to serve their global workforces.
Speaking on the fundraising, Founder & CEO of MOONHUB, Dami Hastrup, said:
2024 is a transformational moment for MOONHUB. In the past few years, we’ve worked towards this moment to become the recognized leader in immersive training, working with global brands that want to support their teams’ development through 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.
Hastrup added:
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 are reassured that their loved ones are in safe hands. This type of feedback inspires our team as we continue to show people the power of immersive learning.
VR technology streamlines remote training, offering flexibility and accessibility to employees across diverse locations. This adaptable approach ensures efficient and effective training delivery, irrespective of geographical barriers, further contributing to a seamless learning experience. The platform’s courses expedite training completion in 25 per cent of the time required by conventional methods. 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 minimizes skill fade by 52 per cent.
Nora Bavey, Founder and General Partner of Unconventional Ventures, commented:
Investing in MOONHUB was a clear choice for us as impact investors, driven by the urgent need to close the skills gap and recognize 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.
The startup, which covers industries such as facilities management, security, and social care, simulates real-world scenarios to offer a hands-on learning environment that is secure, cost-effective, and reduces dependency on physical resources. This generates unique employee insights into abilities and performance, allowing management to make more educated data-driven decisions.
MOONHUB’s latest investment brings the total amount raised to $4.5 million (£3.57 million). Pi Labs and Ada Ventures both followed up on their previous investments.
