Lumenisity Limited secures major investment from a consortium of investors
Fibre optic and cabling technology specialist Lumenisity Limited has closed a GBP7.5 million funding round from a consortium of investors, including a GBP5 million investment from BGF, and GBP2.5 million from Parkwalk, an investor in UK university spinouts.
The company’s existing industrial strategic investors have also supplied significant additional funding.
Lumenisity develops and manufactures advanced cable solutions to address the need for high speed transactions and bandwidth increases in high capacity communications systems.
Hollowcore fibres, where light propagates in an air containing core formed by microscopic capillaries, are long recognised as the next stage of advancement in fibre optic cable technology. They have many advantages over conventional solid glass fibres.
Key challenges have been both the design and manufacturing processes. In particular, for making fibres and to develop the cable and processes for seamless in-field installation in existing and green field networks. Lumenisity has solved many of these challenges in collaboration with the University of Southampton, to create cables suitable for deployment in meaningful lengths for the network.
With more emphasis on the digital economy, autonomy and virtual working than ever before, customers are searching for low latency, high capacity solutions, which Lumenisity’s innovative cabling solutions are able to offer. 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 investment will be used to further commercialise the world leading research beyond current products and to build a new manufacturing and testing facility.
David Parker, Lumenisity Chairman, says: “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 says: “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.
“BGF has a strong track record in the technology sector, and we remain committed to supporting and backing the next generation of strong technology businesses, like Lumenisity, that will help to shape our future.”
The investment was led by BGF’s Mark Bryant, George Tsangarides and Zahir Kasmani.