US-based optical technology manufacturer Rockley Photonics has completed a $50m funding round that included Applied Ventures, the strategic investment arm of semiconductor technology producer Applied Materials.
The round also featured institutional funds including SIG-i Capital, an investment firm backed by financial services group Credit Suisse. It followed an undisclosed amount from investment firm Ahren Innovation Capital in March this year and increased the company’s overall financing to $225m.
Rockley produces silicon photonics chipsets for use in the manufacturing of highly integrated optical and electronic devices such as health sensors or machine learning systems.
Andrew Rickman, Rockley’s CEO, said: “It is testament to the strength of our technology and emerging market opportunities that we have attracted such a preeminent list of new investors to join many of our existing shareholders in this funding round.
“This round provides the funding for Rockley as it moves into the next exciting growth phase and develops next generation disruptive silicon photonics powered healthcare and wellness sensors and communications products for its tier-1 customers.”
The company received $40m from undisclosed investors in March 2018 to take its total funding to $100m since 2013. It has not revealed details of earlier funding but its investors at that time included Kreos Capital and Perscitus.
Rockley had raised $165m altogether as of July 2019, when it closed the first tranche of its series E round at $52m. Fibre optic cable manufacturer Hengtong Optic-Electric provided $30m for the round while Morningside Technology Ventures also participated.
Image courtesy of Rockley Photonics Ltd.
