Rockley Photonics raises $65M to accelerate growth

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Rockley Photonics has just gotten a new investor.
Image: Rockley Photonics

The semiconductor industry is vast, encompassing numerous segments that supply components to almost every industry. Photonics is often an area that is overlooked. However, the emergence of things like computer vision, optical communication, and 5G make photonics chipsets an essential part of today’s tech landscape.

Rockley Photonics is at the forefront of development in this area and is scaling quickly. It is led by Dr. Andrew Rickman, the founder of the first commercial silicon photonics company, Bookham Technology.

Now, Rockley has raised $65 million to help accelerate its growth. The financing will allow it to continue developing its silicon photonics platform in the years to come. Rockley is currently focusing on integrated optical sensors for a variety of Tier-1 customers.

Capital for Growth

To date, Rockley Photonics has raised more than $290 million to help meet its goals. The company’s latest cash injection comes from both new private funds as well as Morningside Ventures, an existing investor.

Rickman says, “There is tremendous need for technologies that can enable effective digital health and wellness, driven by the associated benefit provided to population health.”

“We are committed to our Tier-1 customers and our ability to help expand their product offerings and the innovative data-driven business models these products will enable,” he adds.

Rockley is uniquely positioned to disrupt a number of multi-billion-dollar sectors with its innovative tech. In the years to come, the company’s photonics silicon products will have a major impact in areas like health monitoring, data communications, and machine vision.

In a press release, Morningside’s investment manager Mick Sawka said, “We are very pleased to support Rockley at this juncture of the company’s development and contribute to the commercial success of their integrated optical chipsets and related products in multiple markets.”

“We believe that silicon photonics is at a tipping point, and the technical attributes of Rockley’s platform, coupled with the strong product roadmap and established high-volume production ecosystem, uniquely positions the company for growth in exciting verticals of interest including health care and communications. We have confidence in the deep expertise and proven track record of the Rockley team to deliver exceptional results,” he adds.

Ready for More

The future is bright for Rockley Photonics. The technology industry is at an interesting point as several groundbreaking sectors are on the verge of breaking out. From 5G to self-driving cars, photonics silicon will be at the forefront of innovation in the next several years.

Last year, after a major investment from Ahren Innovation Capital, Rickman said, “Silicon photonics enables novel solutions that unlock extraordinary application capabilities. Our unique manufacturing processes, expertise, and solutions put us several years ahead of the competition.”

The company’s latest funding will keep it at the forefront of innovation in the space. Continue to watch Rockley Photonics in 2021 and beyond as it seeks to disrupt multiple industries and push emerging technologies forward.

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