UK's Durham Graphene Science (DGS) raised £1.2 million in its seed round of financing. The lead investors are IP Group and the North East Technology Fund. DGS (a spin-off from Durham University) is developing mass production technology for graphene. IPG and NETF will invest £500,000 each, and will have a 22% stake in DGS each (valuation is £2.27 million).
DGS developed a unique process for synthesizing the material that creates graphene from carbon using sustainable and readily available cheap feed stocks in a bottom up chemical vapor deposition process. DGS will use the seed investment to scale up its production equipment and establish joint development agreements with partners to test the handling, dispersion and processing of the material across a wide variety of applications.
