Investing

British integrated optics solutions company Rockley Photonics have raised $50 million in growth funding led by Credit Suisse-backed SIG-i Capital and the venture capital arm of Applied Materials Inc., Applied Ventures, LLC. The optics solutions provider also received backing from deep-tech VCs, institutional funds, strategic investors and existing shareholders.

The deal rates Clover at an enterprise value of about $3.7 billion and is expected to close in early 2021.

Like others in the space, the 43-year-old owner of the NordicTrack, Freemotion, ProForm and iFit brands has seen revenues rise amidst social distancing.

Investment proceeds will primarily fund FDA registration studies and opening of US headquarters.

Founded in 2015, Malaysia-based corporate healthcare benefits and wellness management platform HealthMetrics last week announced it has raised a total of $5 million (approximately RM 20 million) as part of its Series A funding.

Rock Health reports $4 billion in funding for U.S. digital health startups this quarter, much of which was driven by a flurry of telehealth investments and late-stage rounds for R&D and fitness tech companies.

The funding was invested by fellow health company Reckitt Benckiser. 

The newly announced deal is expected to close in Q4 2020, and values the direct-to-consumer telehealth company's combined entity at $1.6 billion.

Also European virtual care company HomeDoctor scores $4.3M and sexual health company Emjoy closes seed funding round. 

The funds will support global expansion to meet growing clinical and biopharma demand for data-driven medicine.