GamGraPhic, a Cambridge University spin out developing graphene-based photonics technology, announced a raise of £813,475 (over USD$981,000) from Wealth Club clients through the Enterprise Investment Scheme (EIS). Proceeds from the funding will be used to complete fabrication and testing of the demonstration devices.
This takes its total amount raised to £1.26 million, which has been raised through an equity funding round from existing and new investors led by Frontier IP and Wealth Club. A previous funding round, in September 2021, raised £1.6 million, valuing the company at £7.2 million.
Led by Paul Mantle, Chief Executive Officer, CamGraPhIC is developing graphene-based photonics technology for scalable, faster and cheaper optical transceivers, devices that are crucial for high-speed data and telecommunications networks. Other applications will reportedly include 6G mm wave which will allow data to be transferred at speeds up to 1 terabit per second, High Performance Computing and networks to handle the demands of artificial intelligence. Current versions of the technology have indicated speeds of up to 100Gbps per lane and operation across multiple wavebands.
The technology has attracted interest from major multinationals in the semiconductor and telecommunications sectors. Customer testing is expected to begin next month, in September 2022.