Paragraf raises $60m as graphene-based electronics company sets sights on international growth

The funding round, which includes current investors Parkwalk and Amadeus, will enable the business to increase its technological capacity globally and enhance its R&D capabilities

Cambridge, UK, – Paragraf, the UK-founded pioneer and global leader of graphene-based electronics technologies and products, announces today the close of its $60m Series B round. The round is being led by New Science Ventures, a US deep tech investor, investing in novel scientific approaches in the Life Sciences and Information Technology sectors, which is very well aligned with Paragraf’s growth aspirations.  The round included current investors Parkwalk, Amadeus Capital Partners, IQ Capital and Molten Ventures, as well as new investors British Patient Capital through its Future Fund: Breakthrough and US based, In-Q-Tel. The funding will help the company scale the business as it continues its international growth by increasing its sales and technical prowess in the UK, US, EU and Asia, boosting its R&D capabilities to advance its technology and product development capacity, and expanding its manufacturing infrastructure.

Graphene is a long-awaited alternative to silicon in the electronics devices market as it’s one of the most conductive materials in the world – incredibly strong yet flexible, capable of withstanding very high electrical powers, with great thermal integrity. Paragraf is the first company worldwide to deliver a scalable approach to graphene electronic device manufacturing, by utilising its unique contamination-free technology. 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. In addition, the material offers positive environmental impacts such as reduced power consumption. 

The company has already collaborated with world-renowned organisations such as CERN, the National Physical Laboratory, and Rolls Royce. Paragraf’s next breakthrough product, a graphene-based biosensor that’s targeted at transforming clinical point of care in the medical industry, is in the pipeline. 

Dr Simon Thomas, CEO and Co-founder of Paragraf, said:

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. 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.

Somu Subramaniam, Managing Partner, New Science Ventures said

“Developing and manufacturing at scale, graphene-based sensors and electronics devices, has been a major challenge to industry. Paragraf has met that challenge and is delivering commercial products with order of magnitude improvements in product performance. We are thrilled to lead this financing and to join Simon and the Paragraf team in building a company focused on addressing some of today’s greatest needs.” 

ENDS

About Paragraf

Based near Cambridge, UK, and building on significant know-how and IP, Paragraf has developed atom-layer-thick two-dimensional materials, with a focus on graphene. Through its growing IP portfolio, Paragraf is applying these materials to a range of advanced medical, electronic and energy devices to benefit society.

More information is available at www.paragraf.com; @Paragraf_Gr; LinkedIn: Paragraf Ltd

About New Science Ventures (“NSV”) 

NSV is a leading venture capital firm focused on building companies that leverage breakthrough science to create extraordinary value. NSV invests in companies using fundamental, science-based innovations and backed by strong IP protection to address large unmet needs in Life Sciences and Information Technology sectors. We invest in early and mid-stage companies with a long-term view and support our companies through value inflection points to create scalable businesses and realise value. 

NSV was founded in 2004, has more than $800m under management and is headquartered in Greenwich, CT with an office in London, UK.

For more information please visit: www.newscienceventures.com