Paragraf, a Cambridge, UK-based graphene electronics technology company, raised £3.4m in series A funding.
Draper Esprit joined as significant investor, bringing the total to £16.2m. The round was led by Parkwalk and included investment from IQ Capital, Amadeus Capital Partners, Cambridge Enterprise, the commercialisation arm of the University of Cambridge and Partners Investment Company, as well as several angel investors.
The additional funding will enable the company to accelerate the delivery of its first graphene-based electronics products to market.
Led by Dr Simon Thomas, CEO and Co-founder, Paragraf is a spin-out from the Centre for Gallium Nitride group of Professor Sir Colin Humphreys in the Department of Materials Science at the University of Cambridge. Building on know-how and IP, the company has developed atom-layer-thick two-dimensional materials, with a focus on graphene. Through its IP portfolio, Paragraf is applying these materials to a range of advanced electronic, energy and medical devices to benefit society.
The company has achieved very early delivery to market of its first product, a super-high sensitivity magnetic field detector. The technology also provides operational capabilities over temperature, field and power ranges that no other device can currently achieve.