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Moonhub has raised $1.4 million to expand its virtual reality training.
Danish venture capital firm Unconventional Ventures led the round, with continued support from Pi Labs and Ada Ventures. This funding round brings Moonhub’s total raised capital to $4.5 million.
Founded in 2016 by CEO Dami Hastrup along with cofounders Vinh Ly and Hannah Sutcliffe, Moonhub aims to enhance learning and development through its CPD-accredited immersive VR learning experiences and Spot and Jot technology.
Operating across sectors such as facilities management, security, and social care, Moonhub’s platform recreates real-world scenarios to provide a hands-on learning environment that is secure, cost-effective, and reduces dependence on physical resources.
This approach generates valuable employee insights into skills and performance, empowering management to make well-informed, data-driven decisions, the company said.
Moonhub said its courses accelerate training completion, requiring only 25% of the time compared to traditional methods. The utilization of 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. Furthermore, VR minimizes skill fade by an impressive 52%.
Organizations such as Just Eat, BNP Paribas, Amazon, Zurich, Warner Bros., and Anglian Care are among the global enterprises partnering with Moonhub to enhance the training of their workforces.
VR technology offers streamlined remote training, providing 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.
Moonhub CEO and founder Dami Hastrup highlighted, “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 the use of exciting new technologies.”
Hastrup added, “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% 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.”
The latest investment injection will be directed toward product development and expanding into new markets.
“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,” said Nora Bavey, general partner at Unconventional Ventures, in a statement. “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.”
