Paragraf, the developer of graphene electronics technologies and products, has completed a $60m Series B funding round. This investment will enable Paragraf to expand its sales and engineering support team globally to complement its existing world-class capabilities in graphene science and in the development and manufacturing of graphene-based electronics products.
Supported by Paragraf’s expanded commercial operations, electronics manufacturers and developers worldwide will for the first time be able to take advantage of the unique low-power and high-performance characteristics of graphene-based electronics devices. Led by a larger, global sales and customer support operation, Paragraf will spearhead the drive to adopt graphene-based electronics in high-volume end product designs in the automotive, medical, aerospace, telecoms, computing and other markets.
Paragraf is the first company to develop scalable technology for the mass production of transfer-free graphene on semiconductor industry-compatible wafers. Paragraf uses this technology to produce graphene-based electronics devices such as Hall sensors. The ultra-low power, very high sensitivity, low noise and high accuracy of the devices, as well as their robust performance even in ultra-low temperature cryogenic systems, are an indication of the massive advantages which graphene offers over conventional silicon electronics products.
Driving proven technology into new applications
The new injection of venture capital finance, which was backed by existing and new investors, follows the validation of Paragraf’s graphene electronics technology by research institutes and companies around the world including CERN (Geneva, Switzerland) and Rolls Royce.
The Series B funding will enable Paragraf to scale up its sales and customer support teams in the Americas, Asia and across Europe. Commercial expansion supported by the Series B funding round means that Paragraf can collaborate with and educate organisations around the world about the advantages of Paragraf’s graphene products and technologies, and to accelerate their adoption.
Paragraf CEO Dr Simon Thomas said: ‘The injection of such substantial financing from long-standing investors, as well as new backers, is a mark of their confidence that Paragraf holds the key to the mass deployment of graphene. Graphene is the material which will move the microelectronics industry beyond conventional semiconductors. In the foreseeable future, high-volume manufacturers will be able to use Paragraf chips which offer far better performance at far lower power than any silicon-based device is physically capable of.”
The round included current investors Parkwalk, Amadeus Molten Ventures, IQ Capital as well as new investors New Science Ventures, British Patient Capital through its Future Fund: Breakthrough, and US based In-Q-Tel.