Living Optics Raises $20 Million in Hyperspectral Imaging Round Led by BRV

Living Optics, an Oxford University spinout, has raised $20 million in an oversubscribed funding round led by BRV Capital Management. The company operates in hyperspectral imaging, a precise imaging technology used in industrial inspection, defense, life sciences, and environmental monitoring.

New investors in the round included Lockheed Martin Ventures, Applied Ventures, Lam Capital, GK Goh, and the British Business Bank, joining existing investors Octopus Ventures, Foresight Group, and OTIF Ventures. This mix includes venture capital funds, the investment arm of a major defense company, and a public funding entity.

The company stated that the new funding will be used to scale the global deployment of its platform across industrial inspection, defense, life sciences, and environmental monitoring. The company's technology is based on hyperspectral imaging, which captures broader information than conventional images provide.

For his part, Mark Barry from the British Business Bank said the investment aligns with the UK's industrial strategy in advanced manufacturing and semiconductors. The company is working to commercialize its platform for clients in industrial and defense sectors, explaining why this round brought together investors from those fields.

What do these terms mean?

Spinout: A new company created to commercialize technology developed by researchers at a university or research institution. Hyperspectral imaging: An imaging technique that captures broader light spectra than what the eye or a standard camera can see, revealing fine details in materials. Advanced manufacturing: Industrial production relying on high-precision technologies and automation.