British Business Bank invests in Living Optics, which has secured $20 Million from Financial and Strategic Investors to Scale Hyperspectral Camera Business Across Key Vertical Markets and Geographies
Press release
$20 million financing led by BRV Capital Management includes new investors Lockheed Martin Ventures, Applied Ventures, Lam Capital, GK Goh, and the British Business Bank, with participation from existing investors Octopus Ventures, Foresight Group, and OTIF Ventures.
Living Optics Ltd a hyperspectral camera startup, closed an oversubscribed $20 million financing to scale global deployment of its industry-leading hyperspectral camera platform. This round was led by U.S. and Asia-based venture and growth investor BRV Capital Management. The British Business Bank has also taken part in this funding round.
Mark Barry, Senior Investment Director at British Business Bank:
What an excellent syndicate of both financial and strategic investors! 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.
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. We are excited by the company’s technical progress to date and believe it is well positioned to strengthen the UK’s position in next-generation sensing and imaging technologies.
Living Optics’s existing backers in the UK, Oxford Science Enterprises, Octopus Ventures, OTIF Ventures, Braavos Group, and Foresight Group, continue in their support of the company.
Further Information
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Notes to editors
About Living Optics
Founded in 2019 as a University of Oxford spin-out, Living Optics makes computational hyperspectral cameras, built upon world-record breaking technology from Oxford University’s Physics Department. Their cameras make the advantages of hyperspectral imaging useable in the real world, transforming facets of computer vision to reach unparalleled levels of efficiency and reliability.
Press contact: [email protected]
About the British Business Bank
The British Business Bank is the UK government’s economic development bank. Established in November 2014, its mission is to drive economic growth by helping smaller businesses get the finance they need to start, scale and stay in the UK. Its remit is to design, deliver and efficiently manage UK-wide smaller business access to finance programmes for the UK government.
The British Business Bank’s core programmes support £23bn of finance to almost 64,000 smaller businesses.
British Business Bank plc is a public limited company registered in England and Wales, registration number 08616013, registered office at Steel City House, West Street, Sheffield, S1 2GQ. It is a development bank wholly owned by HM Government. British Business Bank plc and its subsidiaries are not banking institutions and do not operate as such. With the exception of BBB Investment Services Limited they are not authorised or regulated by the Prudential Regulation Authority or the Financial Conduct Authority. BBB Investment Services Limited is authorised and regulated by the Financial Conduct Authority. A complete legal structure chart for the group can be found at british-business-bank.co.uk.
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