Rockley Photonics leaves Chapter 11 bankruptcy with new funding

June 8, 2023
Rockley Photonics, which has leveraged silicon photonics technology for optical communications before shifting its focus to medical applications, says it has emerged from Chapter 11 after filing for bankruptcy protection in the first quarter of this year.

Rockley Photonics, which has leveraged silicon photonics technology for optical communications before shifting its focus to medical applications, says it has emerged from Chapter 11 after filing for bankruptcy protection in the first quarter of this year. Its financial restructuring includes approximately $35 million in additional funding from its stakeholders.

The company asserts that all of its material customer relationships remain in place and it remains on schedule with all of its programs, including development of remote patient monitoring technology. Rockley is developing photonic integrated circuits, sensors, and full-stack offerings to enable sensing platforms, including wearable technology, designed for health monitoring.

“Rockley’s ability to emerge from Chapter 11 in just 46 days was a significant achievement and marks the beginning of a new era for the company. Our stakeholders’ ongoing belief in Rockley has provided us with a greatly strengthened balance sheet and the funds to continue to develop disruptive technology for the med tech market,” commented Dr. Andrew Rickman, Rockley’s CEO. “We greatly appreciate the continued support not only of our stakeholders but also of our suppliers, partners, and employees. I look forward to the opportunity to continue to develop Rockley’s products and bring them to market.”

Rockley Photonics emerged from stealth in 2014 with its own take on silicon photonics (see Bookham founder resurfaces at Rockley Photonics). It established a joint venture with Hengtong Optic-Electric for the optical transceiver market in 2018 and dabbled with an OptoASIC platform as an early form of co-packaged optics before switching its focus to the healthcare market in 2020 (see Rockley Photonics closes new funding, hires CCO with healthcare focus and Rockley Photonics to go public, focus on healthcare market).

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About the Author

Stephen Hardy | Editorial Director and Associate Publisher, Lightwave

Stephen Hardy is editorial director and associate publisher of Lightwave and Broadband Technology Report, part of the Lighting & Technology Group at Endeavor Business Media. Stephen is responsible for establishing and executing editorial strategy across the both brands’ websites, email newsletters, events, and other information products. He has covered the fiber-optics space for more than 20 years, and communications and technology for more than 35 years. During his tenure, Lightwave has received awards from Folio: and the American Society of Business Press Editors (ASBPE) for editorial excellence. Prior to joining Lightwave in 1997, Stephen worked for Telecommunications magazine and the Journal of Electronic Defense.

Stephen has moderated panels at numerous events, including the Optica Executive Forum, ECOC, and SCTE Cable-Tec Expo. He also is program director for the Lightwave Innovation Reviews and the Diamond Technology Reviews.

He has written numerous articles in all aspects of optical communications and fiber-optic networks, including fiber to the home (FTTH), PON, optical components, DWDM, fiber cables, packet optical transport, optical transceivers, lasers, fiber optic testing, and more.

You can connect with Stephen on LinkedIn as well as Twitter.

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