A few months ago, Paragraf announced the close of its £12.8 million (over $16 million USD ) Series A round led by Parkwalk. Now, the Company added £3.4 million (almost $4.5 million USD) to its series A round, with Draper Esprit joining as significant investor, bringing the total to £16.2 million (around $21.4 million USD).
The additional funding is meant to enable Paragraf to significantly accelerate the delivery of its first graphene-based electronics products to market, transitioning the company into a commercial, revenue-generating entity.
Paragraf has achieved very early delivery to market of its first product, a super-high sensitivity magnetic field detector with order of magnitude performance enhancements over existing sensors. The technology also provides operational capabilities over temperature, field and power ranges that no other device can currently achieve. On the back of this success the company has made a strategic decision to take on additional financing, enabling the business to super charge its development roadmap.