Oxford-based Rockley Photonics secures additional $65 million to speed growth

Rockley

Rockley Photonics, which manufactures photonics chips and custom integrated packaged products, has closed an additional $65m round of growth capital from  new private funds and follow-on existing investor Morningside Ventures. To date, Rockley has raised more than $290 million of financing to develop its unique silicon photonics platform from recent investors such as Credit Suisse backed SIG-I Capital and Applied Ventures, LLC, the venture capital arm of Applied Materials, Inc.

Andrew Rickman, chief executive officer, Rockley Photonics, said: “There is tremendous need for technologies that can enable effective digital health and wellness, driven by the associated benefit provided to population health.

“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.”

Mick Sawka, Investment Manager at Morningside Group, added: “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.”

Rockley Photonics was recently named as an early constituent in the Lazard T100 Venture Growth Index (T100), a developing collection of companies demonstrating the potential to disrupt multi-billion-dollar sectors and shaping the European venture growth ecosystem.

As well as its Oxford base, the company has offices in Pasadena, San Jose, Cardiff, Cork, and Helsinki.

Andrew Rickman has form in setting up highly successful tech companies. He founded Bookham Group in Wiltshire in 1988, and went on to become CEO and Chairman of the company which he grew from a start-up to world no 2 in optical communications components, floated on the London Stock Exchange and NASDAQ.