A pioneer of graphene-based electronics technologies and products has raised £45 million in Series B funding.
Paragraf, based in Somersham – between Cambridge and Peterborough – was founded in 2015 and claims to be the first company worldwide to deliver a scalable approach to graphene device manufacturing.
Graphene is one of the most conductive materials in the world and provides an alternative to silicon in the electronics devices market. The material also offers a number of positive environmental impacts, including reduced power consumption.
The company’s current products, the Graphene Hall Effect Sensor range, are already being used in a wide range of applications across the aerospace, semiconductor, healthcare, automotive, scientific research, industrial and quantum computing spaces.
Paragraf has already collaborated with a number of world-renowned organisations, including CERN, the National Physical Laboratory and Rolls-Royce and will use the funding to expand further and continue its international growth.
The company’s next breakthrough product, a graphene-based biosensor that’s targeted at transforming clinical point of care in the medical industry, is also in the pipeline.
The round was led by New Science Ventures, a US deep tech investor, alongside current investors Molten Ventures, Parkwalk, Amadeus Capital Partners and IQ Capital, as well as new investors British Patient Capital through its Future Fund: Breakthrough and US-based In-Q-Tel.
“Our increasing desire for continually improving electronic device performance paired with the absolute necessity to reduce our power requirements, and hence carbon footprints, demands new technology solutions – next generation materials will be at the heart of this,” said Dr Simon Thomas, CEO and co-founder of Paragraf.
“At Paragraf we are proud to be leading the way, bringing the first 2D material, graphene, into the electronic product supply chain, through our first products, allowing its transformational, game changing properties and benefits to be harnessed.”
Molten Ventures added: “Graphene has an extraordinary future but Paragraf is unique in its development of a practical method to produce high-quality graphene that can satisfy the pent-up demand for the material.
“Its approach allows for a high degree of flexibility in the properties of the graphene that it produces, which allows it to create new devices of its own and for its partners.
“Backed by an impressive, highly technical team, it is developing significant commercial applications from its world-class research and patented IP.
“We are delighted to continue our backing of Paragraf and look forward to the next stage of its growth journey.”