Rockley Photonics Completes $40M Funding Round
07 March 2018 – Total of $100M funding raised to address multiple billion-dollar market opportunities
Rockley Photonics, a pioneer in integrated optics for high-density digital systems, today announced that it has raised $40M in its most recent funding round. This latest investment, which takes the total raised to $100M since its 2013 launch, will enable Rockley to rapidly expand the design and production of its platform for high performance optical networking solutions, imaging and sensor photonics, and custom photonics for consumer applications.
Rockley’s differentiated silicon manufacturing technology produces devices at a competitive cost with low power consumption. Its ability to integrate electronics and photonics without compromising manufacturability or performance enables Rockley to serve numerous emerging applications. Rockley’s target markets include consumer electronics, autonomous vehicle, biomedical and industrial sectors, as well as high-performance networking optics for datacenter and infrastructure networking.
“The industry has responded strongly to our platform approach, especially given its flexibility to address a range of market applications,” said Dr. Andrew Rickman, chief executive officer, Rockley Photonics. “This round of funding will enable us to focus our technology on these emerging, high-growth market opportunities.”
Rockley’s chief financial officer, Mahesh Karanth, commented, “This latest funding will accelerate our strategic market focus. We will deliver an IP portfolio that will enable customers to quickly deploy the Rockley platform across their multiple markets.”
“We are seeing rapidly emerging, high-growth market opportunities for our integrated photonics platform,” added Rockley’s chief commercial officer, Nick Kucharewski. “With active customer engagements in multiple high-growth segments, the new investment round will enable us to deliver advanced solutions for our customers.”
In January, Rockley announced a $42m joint venture with Hengtong Optic-Electric Co. Ltd to manufacture high-performance optical transceiver modules based on its silicon photonics technology.