Immersive technology business secures £2m in funding round led by Praetura Ventures
Manchester-based PixelMax, which uses 3D interactive technology to ‘revolutionise’ the way content is delivered to mass audiences, has secured £2m investment.
The funding round was led by Praetura Ventures, with participation from ACT Capital Partners.
PixelMax is changing the way organisations inform, educate and engage with their audiences through the use of digital twinning, product or process simulation, and virtual environments.
The business, which is led by co-founders Andy Sands, Shay O’Carroll and Rob Hilton, has already collaborated with an NHS Trust to create a simulation of a hospital department, enabling patients and their families to familiarise themselves with the process and experience they can expect before having to go into hospital.
Meanwhile, manufacturing firms are collaborating with PixelMax to create digital twins of machinery and factory sites to help deliver training virtually.
In the past 12 months, PixelMax has also expanded into the events sector and developed its technology to host fully immersive event experiences for clients including the Chartered Institute of Public Relations and Manufacturing Made Smarter.
The investment and support from Praetura Ventures and ACT Capital Partners will now allow PixelMax to expand its team and define its go-to-market strategy to drive growth.
Andy Sands, co-founder of PixelMax, said: “Right now there is a huge opportunity for PixelMax, but to get to the next level we need an investment partner that can provide strategic guidance and support, as well as an injection of capital.”
The funding round was led by Praetura Ventures’ director Mark Lyons, investment director Pete Carway, investment manager Sim Singh-Landa and investment executive Myrto Lalacos.
Praetura Ventures’ portfolio director, Andy Sumner, will join the PixelMax board as a non-executive director, alongside entrepreneur Shaz Sulaman, co-founder of Solid Bond Capital, an investor in the business, who will join as executive chairman.
Mark Lyons said: “PixelMax’s innovative technology ensures the business has strong foundations and as the coronavirus pandemic continues to highlight the need for digital innovation across many industries there is a real appetite for the team to capitalise on.
“The management team is not only incredibly talented and passionate about what they do, they have the grit, resilience and determination that entrepreneurs need to succeed.”
Irwin Mitchell provided legal advice to Praetura Ventures. Slater Heelis provided legal advice to PixelMax.