US-based fabless optical technology developer Rockley Photonics has closed a $65m funding round featuring Applied Ventures, the corporate venturing subsidiary of semiconductor technology provider Applied Materials.
Venture capital firm 5Y Capital also took part in the round, which included a $50m close in October 2020 that included Applied Ventures and SIG-i Capital, an investment vehicle sponsored by financial services firm Credit Suisse.
Rockley provides photonic integrated circuit technology which combines various semiconductor optical structures used in sensor and communication units.
The company said it has now raised more than $290m. It had previously received an undisclosed amount from investment firm Ahren Innovation Capital in March 2020 that lifted its total funding at the time to $225m.
Rockley’s earlier funding included a $52m series E round featuring $30m from fibre optic cable producer Hengtong Optic-Electric and additional cash from 5Y Capital (then Morningside Venture Partners). Its existing backers include Kreos Capital and Perscitus.
Andrew Rickman, Rockley’s chief executive, 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.”
