Rockley Photonics, a company that manufactures photonics chips and custom integrated packaged products, secured $65 million (approx £47 million) from both new private funds and follow-on existing investor Morningside Ventures. The latest funding brings the total amount raised to $290 million (approx £211 million).
The funding will be used to accelerate its product offerings, particularly our integrated optical sensors products.
Developed silicon photonics platform
Founded by Andrew Rickman in 2013, a recognised pioneer in silicon photonics, Rockley Photonics has developed a highly versatile, application-specific, third-generation silicon photonics platform for the optical integration challenges facing numerous mega-trend markets.
The platform offers products for broad market applications ranging from communications to consumers.
According to the report from IndustryArc, the silicon photonics market is expected to triple in value by 2025 to $2.5 billion, with a CAGR of 24.6%. Other key players include NeoPhotonics, Intel, GlobalFoundries, and CISCO.
“There is tremendous need for technologies that can enable effective digital health and wellness, driven by the associated benefit provided to population health,” said Andrew Rickman, chief executive officer, Rockley Photonics. “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.”
“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,” said Mick Sawka, Investment Manager at Morningside Group. “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.”
