British LED lighting manufacturer Rotolight has picked up “substantial” equity investment from the Development Capital team at Octopus Investments to help push forward its growth plans.
The £5 million growth capital funding will go towards the research and development of 15 new products in the next five years as well as marketing and international expansion, which will lead to the creation of a number of new jobs, at its headquarters at Pinewood Studios.
Rotolight’s products range from NEO 2, the world’s first LED flash for photographers, to its Anova PRO 2 professional studio light that has been used by the BBC, ITV’s Dancing on Ice, EA Sports and Disney. The lights have so far been used on features including Skyfall and Captain Phillips.
Richard Court, Head of Development Capital with Octopus Investments, said: “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.”
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, enabling them to be more creative and efficient in their work than ever before. Octopus bring a wealth of expertise and added value which was very important to us, and really understood and bought into our vision for the future”.
As part of the deal, Rotolight has also announced 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.
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