Fibre optic tech firm closes £7.5m funding round
Posted on September 30, 2020 by Alistair Hardaker
Fibre optic and cabling tech firm Lumensity has closed a £7.5m funding round from a consortium of investors.
The Reading firm develops and manufactures advanced cable solutions to address the need for high speed transactions and bandwidth increases in high capacity communications systems.
The firm’s hollowcore fibres allow light to propagate in an air containing core formed by microscopic capillaries, an advancement in fibre optic cable technology.
This investment comprises of a £5m investment from BGF, the UK and Ireland’s most active investor, and £2.5m from Parkwalk, the most active investor into UK university spinouts, alongside significant further funding from the company’s existing industrial strategic investors.
The investment will be used to further commercialise the world leading research beyond current products and to build a new manufacturing and testing facility.
The firm has worked in collaboration with the University of Southampton, to create cables suitable for deployment in meaningful lengths for the network.
Datacentres, a key market for the business, will be able to extend their network over a broader area with increased speed and capacity, driving network efficiency and enabling access to affordable real estate and utilities, the firm said.
David Parker, Lumenisity Chairman said: “We are thrilled to have received this investment. With strong track records in backing pioneering technology companies and a patient capital approach, we’ve found the perfect investors to partner with. We are excited to drive innovation and build the necessary infrastructure for a new digital age.
“The manufacturing and testing facility which we are building in the UK with this investment is set to drive growth for our business and the industry as a whole.”
Mark Byrant at BGF added: “We are delighted to have completed this investment into Lumenisity and to support them on their journey to develop and roll out their pioneering technology. Lumenisity is an exciting company driving real progress in the sector, with a talented, experienced management team and a strong potential for significant growth and expansion.