Rockley Photonics, a leading silicon photonics solutions provider, announces the successful first closure in its Series E funding round. Investors in the additional $52 million funding include a key strategic partner, Morningside Technology Ventures and numerous private investors. This latest funding round takes the total raised by Rockley to date to $165m.
Mahesh Karanth, chief financial officer at Rockley explained: ‚ÄúWith this latest round of investment, Rockley is strengthening its position as a leading integrated silicon photonics solutions provider. It will support the full execution of our business plan and continued growth as we make significant strides in co-packaging for optoASICs and data center connectivity, LiDAR and consumer electronic applications.‚Äù
Silicon photonics involves the micro-integration of optical functions on silicon chips and is the optical counterpart of micro-electronic integrated circuits. The innovative technology transforms applications that were once the domain of traditional, pure electronic chip technologies. It is evolving into a core enabling technology for numerous burgeoning markets including Web 2.0 data centers, 5G, AI, autonomy, machine vision and healthcare. Yole D√©veloppement estimated the global market for silicon photonics to be worth US$500 million in 2018 with growth predicted to exceed US$3.5 billion by 2025.
Andrew Rickman, chief executive officer at Rockley added: ‚ÄúRockley is uniquely positioned having developed a proprietary photonics platform and manufacturing technologies, underpinned by a depth of expertise that goes back some 30 years. We are currently using our platform to address applications in the data center and high-performance computing, medical and life sciences, and 3D imaging/sensing verticals with the potential for additional verticals in the future.‚Äù