Growth funding from Octopus secures a bright future for Rotolight
Octopus Investments, part of the Octopus Group, today announced that its Development Capital team has provided growth funding to British technology company Rotolight.
Rotolight specialises in creating advanced LED lighting for the photography and filmmaking industries and will use the funding to support its ambitious business growth plans. The growth capital will strengthen the company’s future, as they invest further in research and development to supplement their existing cutting-edge products, as well as marketing and international expansion.
Appealing to both ‘prosumer’ and professionals alike, Rotolight has revolutionised the photography and filmmaking industries with its advanced lighting technology, from NEO 2™ : the world’s first colour-tuneable LED flash for aspiring photographers, to its ANOVA PRO™ professional studio lighting range that has been utilised by the BBC, ITV’s Dancing on Ice, EA Sports and Disney. Rotolight’s products have lit countless famous faces and have been utilised on feature films such as James Bond Skyfall, and Tom Hanks ‘Captain Phillips’. Their products offer a unique build quality and design, being entirely UK-made, and boast a considerable IP portfolio including over 50 patents and designs. The company has exported to 41 countries around the world.
Richard Court, Head of Development Capital for Octopus Investments, commented:
“We are very excited to be backing what is a highly innovative, UK-based business led by a first-class management team. The company has developed a range of market-leading products backed by substantial IP, and our growth capital will be used to further develop the product range as well as capitalising on extensive international expansion opportunities. This investment represents the sixth investment by our Development Capital team in the last year, and continues our strategy of providing meaningful growth capital to companies to accelerate their path to sustainable profitability.”
In the last 12 months, the Development Capital team at Octopus Investments has backed a number of exciting businesses with strong growth potential, including cloud telephony business Natterbox, and online food marketplace City Pantry. The team invests between £2m and £10m, with a focus on businesses with strong technology, IP or tech-enabled services.
Rod Aaron Gammons, CEO of Rotolight, said:
“We are delighted to secure Octopus as part of our team for what will be a very exciting time ahead; delivering on our ambitious plans for growth and developing products that change the way photographers and filmmakers work with light. Octopus brings a wealth of expertise and added value which was very important to us, and really understood and bought into our vision for the future. They took a constructive approach to due diligence and have helped us assemble an expanded management team capable of delivering on our ambitious growth plans”.
As part of the deal, Rotolight are also excited to announce that the former MD of Dixons and CEO of Jessops PLC, Christopher Langley, and Martin Wood, formerly of Tetley Group and Hozelock Group will be joining the company board of directors, as Chairman and chief financial officer respectively.
Notes to editors:
Rotolight is a pioneering British technology company, specialising in creating award-winning LED lighting products for photographers and filmmakers. Known for constantly pushing the boundaries of innovation, Rotolight strives to create products that provide unique tools to image makers, allowing them to realise their creative vision and aspirations. Leading where others follow, Rotolight has developed countless industry-first features and has been widely recognised with numerous global awards and accolades for its innovation, technical excellence and product quality. As a family business, Rotolight has a unique long-term outlook allowing it to focus on continually investing to deliver outstanding quality products and a totally unique customer experience. Visit www.rotolight.com
For journalists in their professional capacity only. The value of an investment, and any income from it, can fall as well as rise. Investors may not get back the full amount they invest. Personal opinions may change and should not be seen as advice or a recommendation. We do not offer investment or tax advice. We recommend investors seek professional advice before deciding to invest. Issued by Octopus Investments Limited, which is authorised and regulated by the Financial Conduct Authority. Registered office: 33 Holborn, London, EC1N 2HT. Registered in England and Wales No. 03942880. Issued: February 2019.