Living Optics, a company specialising in hyperspectral camera technology, has successfully secured $20 million in an oversubscribed financing round. The investment, led by venture and growth investor BRV Capital Management, includes new strategic partners such as Lockheed Martin Ventures, Applied Ventures, Lam Capital, and GK Goh, as well as continued support from existing investors including Octopus Ventures and Foresight Group. The British Business Bank also took part in this funding round.
Mark Barry, Senior Investment Director at the British Business Bank, commented on the investment, highlighting the strong syndicate of investors. He stated, "For us this investment into Living Optics reflects the British Business Bank’s commitment to backing companies aligned with the UK’s industrial strategy, particularly in advanced manufacturing and strategically important technologies such as semiconductors."
Barry further noted that Living Optics' hyperspectral imaging platform is a "highly differentiated technology with the potential to unlock new capabilities across a range of critical industries, including industrial inspection, defence, life sciences and environmental monitoring." He expressed confidence in the company's technical progress and its potential to "strengthen the UK’s position in next-generation sensing and imaging technologies."
Founded in 2019 as a spin-out from the University of Oxford's Physics Department, Living Optics develops computational hyperspectral cameras based on world-record breaking technology. Their platform aims to make hyperspectral imaging practical for real-world applications, enhancing efficiency and reliability in computer vision.
The British Business Bank functions as the UK government's economic development bank, focused on driving growth by assisting smaller businesses in accessing the finance needed to start, scale, and remain in the UK. Its programmes support significant finance for a large number of smaller businesses across the country.
