UK-based Paragraf, a company focused on producing graphene-based electronics with standard semiconductor processes, has secured $55 million in a Series C funding round. The funding was led by the United Arab Emirates' sovereign wealth fund, Mubadala.
The funds will reportedly be used to scale manufacturing capabilities for its graphene-based electronics.The funding will speed up the scaling of Paragraf’s manufacturing capabilities and increase production capacity, paving the way for graphene electronics to enter mass markets.
Dr. Simon Thomas, co-founder and CEO of Paragraf, said: “This investment is a strong signal of confidence in Paragraf and our mission in the face of global economic uncertainty. This new funding will enable us to expand production of faster, more energy-efficient technologies to the scale required by major commercial opportunities.”
“In what is a particularly challenging funding environment, we’ve attracted strong interest and are pleased to have secured the backing of both new and existing partners who share our vision for transforming electronics with graphene.”
The company runs three facilities, two in Cambridgeshire, UK, and one in San Diego, US, following its 2023 acquisition of a US company. Paragraf is now expanding its presence across the US, Europe, the Middle East, and Asia.
