Oxford-based Living Optics raises £15.1m led by BRV with Lockheed Martin Ventures
This article covers Living Optics, a University of Oxford spin-out startup, which has raised £15.1m in a growth funding round led by BRV Capital Management to scale deployment of its hyperspectral camera platform. The funding will support deployment across industrial, defence, life sciences and environmental markets and advance commercialisation of its hyperspectral imaging technology.
Living Optics has raised £15.1m in a growth funding round to scale deployment of its hyperspectral camera platform across industrial, defence, life sciences and environmental markets. The round was led by BRV Capital Management and includes new strategic investors such as Lockheed Martin Ventures and Applied Ventures, alongside participation from the British Business Bank and several existing UK backers.
Why it matters
Hyperspectral imaging captures many narrow bands of the light spectrum, allowing machines to identify materials and detect features that standard cameras miss. That capability matters across multiple sectors — from industrial inspection where small defects must be found at speed, to life sciences and environmental monitoring where spectral signatures can reveal composition or contamination. For the UK, a company commercialising advanced sensing technologies from university research ties into industrial strategy priorities around advanced manufacturing and next‑generation imaging.
Living Optics was founded in 2019 as a University of Oxford spin‑out and positions itself as a commercial bridge between lab‑grade hyperspectral systems and high‑volume, real‑world deployments.
Inside the product
Living Optics builds computational hyperspectral cameras based on technology developed in the University of Oxford Physics Department. The company says it has achieved world‑record performance in some technical benchmarks and focuses on making hyperspectral imaging usable in practical settings by improving form factor, integration and processing workflows.
In practical terms, that means combining optical hardware with on‑board computation and software to deliver spectral information in formats that can be integrated into existing machine vision pipelines. Use cases mentioned by the company include automated industrial inspection, defence sensing, diagnostics in life sciences and environmental monitoring, where faster, more reliable detection can reduce costs or improve outcomes.
Who are the investors?
The £15.1m growth round was led by BRV Capital Management, a US and Asia‑based venture and growth investor. New strategic participants include Lockheed Martin Ventures, Applied Ventures, Lam Capital and GK Goh. The British Business Bank — the UK government’s economic development bank — also took part. Existing investors that participated include Octopus Ventures, Foresight Group and OTIF Ventures, while prior backers remaining on the register include Oxford Science Enterprises and Braavos Group.
The syndicate mixes financial and strategic investors. Lockheed Martin Ventures brings defence sector reach; Applied Ventures is the corporate venture arm of Applied Materials and signals relevance to semiconductor and materials inspection markets; BRV provides growth‑stage capital and international distribution potential. UK VCs such as Octopus and Foresight contribute local market knowledge and follow‑on funding capacity. The round was described as oversubscribed by the company.
In the announcement, Mark Barry, Senior Investment Director at British Business Bank, said:
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.
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Founder perspective
The company has not released a founder quote in this announcement. The funding will be used to scale global deployment of Living Optics’ hyperspectral camera platform and accelerate entry into the vertical markets named in the release. As a 2019 Oxford spin‑out, the company’s immediate priorities are likely to include product engineering for manufacturability, commercial pilots with strategic partners and building distribution channels in targeted geographies.
The bigger picture
The round underlines growing investor interest in advanced sensing and imaging hardware that can be paired with on‑device computation — a combination relevant to healthtech, industrial automation and defence. For the UK ecosystem, involvement from the British Business Bank and continued support from domestic VCs signal public and private alignment behind commercialising university deep tech.
Living Optics’ raise also illustrates how strategic corporate venture arms and defence investors are increasingly participating in rounds for startups whose technologies have cross‑sector applications, from semiconductor inspection to biological diagnostics. That mix of capital and commercial contacts could speed adoption but also raises questions about market focus and regulatory pathways as the company scales across sensitive domains.
They've invested in Living Optics
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| Investors | Investment Focus | Startup Investments | Round Size | Connect |
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 British Business Bank( ) The British Business Bank focuses on enhancing finance accessibility for smaller... Sheffield  | ||||
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 Lockheed Martin Ventures( ) Bethesda, US  | ||||
 Applied Ventures( ) | ||||
 Lam Capital( ) | ||||
 GK Goh( ) | ||||
 Octopus Ventures( ) This venture capital firm focuses on investing in sectors such as B2B Software, ... London | ||||
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 Oxford Science Enterprises( ) The firm focuses on investing in Life Sciences, Health Tech, and Deep Tech, prim... Oxford | ||||
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