Moonhub, a virtual reality (VR) training company, has secured $1.4 million in funding to enhance its immersive learning experiences. Danish venture capital firm Unconventional Ventures led the funding round, with continued support from Pi Labs and Ada Ventures, bringing Moonhub’s total raised capital to $4.5 million.
Moonhub, founded in 2016 by CEO Dami Hastrup, Vinh Ly, and Hannah Sutcliffe, aims to revolutionize learning and development through its CPD-accredited VR training platform. The company operates across sectors such as facilities management, security, and social care, recreating real-world scenarios to provide a hands-on learning environment that is secure, cost-effective, and reduces dependence on physical resources.
One of the key advantages of Moonhub’s VR training is its ability to generate valuable employee insights into skills and performance. By immersing employees in realistic scenarios, management can make well-informed, data-driven decisions. Moonhub’s courses also accelerate training completion, requiring only 25% of the time compared to traditional methods. Additionally, VR technology has been proven to enhance learning retention to 75%, a significant increase compared to the 10% retention associated with traditional classroom training programs. It also minimizes skill fade by an impressive 52%.
Global enterprises such as Just Eat, BNP Paribas, Amazon, Zurich, Warner Bros., and Anglian Care have already partnered with Moonhub to enhance the training of their workforces. The streamlined remote training offered by VR technology provides flexibility and accessibility to employees scattered across diverse locations. This adaptable approach ensures efficient and effective training delivery, overcoming geographical barriers and contributing to a seamless learning experience.
With the latest injection of funding, Moonhub plans to focus on product development and expanding into new markets. The company’s Elara product, which specializes in dementia care VR training, has received a 98% approval rating and has made professionals feel more valued, connected, and prepared. Families of care patients also feel more reassured that their loved ones are in safe hands. Moonhub aims to establish itself as the recognized leader in immersive training, working with global brands that want to support their teams’ development through the use of exciting new technologies.
Nora Bavey, a general partner at Unconventional Ventures, expressed excitement about investing in Moonhub, stating that the company’s impact on closing the skills gap and its potential impact on the global economy solidified their belief in Moonhub’s role as a transformative force in the training industry. 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.
Moonhub’s success in securing funding highlights the growing demand for immersive VR training solutions. As industries continue to evolve and adapt, companies like Moonhub are at the forefront of providing innovative training methods that are efficient, effective, and engaging. With its continued expansion and product development, Moonhub is set to make a significant impact in various sectors, revolutionizing the way employees learn and develop their skills.
