Rockley raises $290m

Business news |
By Nick Flaherty

The $65m (€53m) funding for Rockley Photonics comes from both new private funds and follow-on existing investor Morningside Ventures. This follows $50m raised in August last year.

Rockely has developed a technology that simplifies the use of photonics in health monitoring in consumer devices, data communications and machine vision.

“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 at Rockley Photonics. “This funding provides the resources for Rockley to dramatically accelerate its product offerings, particularly our integrated optical sensors products. 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.”

Rickman founded Rockely in 2013 after setting up the first commercial silicon photonics company, Bookham Technology, that became Oclaro and is now part of Lumentum.

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